Car buyers hit with record-high COEs

In the last bidding exercise on 5 April, Certificate of Entitlement premiums closed higher almost across the board. Categories A and B broke records again.

More from OMY: COEs for all vehicles close higher, except open category

Category A cars closed at S$96,501, up from S$93,503 in the previous exercise. Meanwhile, Category B cars rose to S$118,501 from S$116,201.

For Open Category COEs which are used for any vehicle type but are mostly used for large cars, it went up to S$118,990 from S$116,020.

COEs for commercial vehicles decreased from S$85,389 to S$76,801, and motorcycle premiums remain unchanged from the previous exercise. It closed at S$12,001.

In this bidding exercise, 2,199 bids were received, with a quota of 1,592 available COEs.

Due to the change made in February on the new additional registration fee, owners of higher-end cars end up paying more for their vehicles.

More from OMY: How To Buy A Car In Singapore: Guide To Owning Your First Car

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