SINGAPORE: On Wednesday, December 6, Certificate of Entitlement ( COE ) premiums for smaller cars closed slightly higher, but prices for other categories of vehicles decreased.
Premiums for Category A vehicles, or those with horsepower no higher than 130 bhp, closed at S$ 88, 020 ( US$ 65, 700 ), an increase from S$ 85, 001 in the prior exercise.  ,
The price of larger and more potent vehicles in Category B decreased from S$ 135, 336 to S$ 130, 100. The price of  , Open class COEs, which can be used for any type of vehicle but are ultimately primarily used on massive cars, decreased from S$ 135, 002 to S$ 133, 388.
In the previous selling exercise, COEs for business automobiles, which include goods vehicles and buses, decreased from S$ 73, 889, and nbsp.
Motorcycle rates decreased from S$ 10,001 to S$ 9, 858.
A limit of 2, 433 COEs was available, and a full of 3, 530 proposals were received.
With COE rates reaching  , S$ 150, 001 in Category B and S$ 158, 004 in the Open Category, prices for all vehicles types reached record highs in October.
The entire supply of COEs increased from the past quarter to 14, 388 for the fourth from November 2023 to January 2024.
The COE limit will be introduced from top years to fill the current provide troughs andnbsp while upholding Singapore’s zero-vegetation growth policy, according to Acting Minister for Transport Chee Hong Tat last month.
Because many of the current cars have never reached the end of their COE lifespans and are not expected for deregistration, Categories A, B, and C face a “tight offer condition,” Mr. Chee stated in parliament on November 6.
However, he added that the COE source for these categories will rise drastically starting in the second quarter of 2024 before reaching its peak supply years in 2026–2027.