The first Certificate of Entitlement (COE) bidding exercise for October 2024 saw premiums increase across all categories, with Category A going past the $100,000 mark for the first time since last October.
The first Certificate of Entitlement bidding exercise for October 2024 saw premiums increase across all categories, with Category A going past the $100,000 mark for the first time since last October.
Cat A COEs, which are used for cars with internal combustion engines of up to 1,600cc in capacity and have a power output of less than 130hp, as well as electric cars with a power output of up to 110kW, went up by $5,275 to end the bidding exercise at $103,799. Cat B COEs, which are used for ICE cars that exceed 1,600cc in capacity or have more than 130hp, and electric cars with over 110kW, saw premiums going up by $6,001 to end at $116,002.
Cat C, which are for goods vehicles and buses, saw prices go up by $1,009 to end the bidding exercise at $75,009.Finally, Cat E, which is open to all vehicles except motorcycles, saw premiums go up by $2,896 to finish the exercise at $116,000.*PQP, or Prevailing Quota Premium, is the moving average of COE prices in the last 3 months, and denotes the amount payable in order to renew a car's COE at the end of its tenure.
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