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Certificate of entitlement prices rose across all five categories at the latest tender exercise on Sept 4, with the premium for smaller, less powerful cars rising to $96,490, the highest so far in 2024.
The price of an Open category COE was $106,901, 0.8 per cent higher than the previous premium of $106,001. Such 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 COE premium was $74,001, 2.2 per cent above the $72,400 recorded previously. This is the fifth consecutive increase for this COE category.
Mr Ng Lee Kwang, board adviser to Goldbell Corp, which specialises in leasing and distributing commercial and industrial vehicles, believes Chinese EV brand BYD, which has been selling well in 2024, influenced the latest results. In anticipation of vehicle stock arriving for delivery in November, Honda agent Kah Motor has started securing the needed COEs for the orders collected, said its chief executive, Mr Nicholas Wong. Category A and B COEs can be held for up to six months before registration.
LTA ELECTRIC AND HYBRID VEHICLES
Singapore Latest News, Singapore Headlines
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