Small car COE premiums jump to record $129,000

Demand exceeded available quotas across all five categories.

Category A Certificate of Entitlement (COE) premiums for cars rose to $129,000 in the Land Transport Authority's (LTA) first July bidding exercise, whilst premiums also increased across the other categories.

The Category A COE for smaller cars was previously valued at $123,847 in the second bidding exercise of June, whilst the Category B COE for larger cars and electric vehicles increased to $130,889 from $123,502.

Category C premiums for goods vehicles and buses rose to $95,000 from $94,502, whilst Category D premiums for motorcycles increased to $10,201 from $9,889.

The open Category E premium also climbed to $129,801 from $129,002.

LTA said demand exceeded available quotas across all five categories. Category A attracted 1,879 bids for a quota of 1,244 COEs, with 1,207 successful bids. Category B received 1,500 bids for 867 COEs, resulting in 863 successful bids.

Category C recorded 442 bids for 296 COEs, with 287 successful bids. Category D received 677 bids for 530 COEs, with 520 successful bids. Category E attracted 452 bids for 277 COEs, all of which were allocated.

The first July COE bidding exercise ended on 8 July at 4 p.m.

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