The price of a Category B Certificate of Entitlement (COE) rose to S$113,000 in Singapore’s latest tender exercise on 5 March, marking a 3.1% increase from S$109,598 in the previous bidding round on 19 February.
This category, which covers larger and more powerful cars and electric vehicles (EVs), saw one of the more significant increases among the different COE categories.
Meanwhile, the COE premium for Category A, which applies to smaller and less powerful cars and EVs, saw a slight dip of 0.1%, dropping from S$92,850 in the last exercise to S$92,730.
For the Open Category (Category E), which can be used to register any vehicle type except motorcycles but is typically applied to larger cars, the COE price climbed to S$112,901. This represents a S$2,899 increase from the previous tender.
The commercial vehicle (Category C) COE premium also experienced a rise, reaching S$67,001. This is 2.8% higher than the S$65,189 recorded in the prior exercise.
Motorcycle COE prices (Category D) saw the highest percentage increase, jumping by 4.7% to S$9,201 from the previous S$8,791.
A COE is required for registering a vehicle in Singapore, and for most vehicle types, its cost is included in the final vehicle price.
Bid activity also shifted in this tender exercise. The number of unsuccessful bids in Category A fell from 1,141 in the 19 February tender to 890 on 5 March.
In Category B, unsuccessful bids increased from 394 in the previous round to 459, with an additional 16 bids left unused this time.
COE prices have remained high in recent months, reflecting sustained demand for vehicles despite fluctuations in supply.
The next bidding exercise is expected to provide further insights into market trends.
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