CERTIFICATE of Entitlement (COE) results for October’s first round of bidding saw the mainstream and large passenger car categories set new highs for 2024 to date, as premiums for all vehicle categories rose.
The premium for Category A rose 5.4 per cent or S$5,275 to S$103,799.
This marks the first time the category has breached the S$100,000 mark in 2024, with the previous high of S$98,524 set in September 2024’s second round of bidding.
It was last at a similar level a year ago: S$106,000 in October 2023’s second round of bidding.
The Category A COE applies to mainstream cars that have engines of up to 1,600 cubic centimetres (cc) in capacity or with up to 97 kilowatts (kW) of power, or for electric vehicles (EVs) with up to 110 kW of power.
The premium for Category B rose 5.5 per cent or S$6,001 to S$116,002.
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This is also the Category’s highest level in 2024 so far, eclipsing the previous high of S$112,000 set in January’s second round of bidding.
Category B is the category for larger or more expensive cars with engines of more than 1,600 cc in capacity or that have more than 97 kW, or for EVs with more than 110 kW.
Category E, the open category which can be used to register any type of motor vehicle except for motorcycles, increased by 2.6 per cent or S$2,896 to S$116,000.
It also set a new 2024 high, exceeding the previous high of S$113,104 set in September’s second round of bidding.
Category E is typically used to register vehicles from Category B, which is consistently the most expensive category, so its premiums shadow Category B’s.
Prices for Category C, applicable to commercial vehicles and buses, increased 1.4 per cent or S$1,009 to S$75,009.
Prices for Category D, used for motorcycles, rose 1 per cent, or S$101, to S$10,001.
On Oct 4, the Land Transport Authority announced a 3.6 per cent increase in the overall COE quota for the November 2024 to January 2025 period.