COE price for smaller cars crosses $100,000 to hit one-year high

Certificate of entitlement (COE) premiums went up across the board on Oct 9, with premiums for smaller cars reaching a one-year high.

- Esther Loi

At $103,799, the price of a Category A COE - meant for smaller and less powerful cars and electric vehicles (EVs) - was $5,275, or 5.4 per cent, higher than the $98,524 recorded at the previous exercise on Sept 18.

This is the highest price for Category A since October 2023, when it hit $106,000. It is also the first time in 2024 that the premium crossed the $100,000 mark.

The premium for a Category B COE, used to register larger and more powerful cars and EVs, climbed 5.5 per cent to $116,002, from $110,001 previously.

The price of an Open category (Category E) COE ended at $116,000, 2.6 per cent higher than the $113,104 from the previous round. These certificates can be used to register any vehicle type other than motorcycles, but are almost always used for bigger, more powerful cars.

The commercial vehicle (Category C) COE premium climbed to $75,009, 1.4 per cent higher than the $74,000 registered three weeks ago.