COE for large cars crosses S$100,000 – Record prices since 1994 haven’t stopped Singapore’s residents from buying cars here, in one of the world’s most expensive cities.
COE premiums cross $100,000 for large cars and Open category https://t.co/zgeKvRclc0
— The Straits Times (@straits_times) June 8, 2022
Prices rose across all categories at the end of the latest bidding exercise on the 1st bidding of June on Wednesday. This is but one of the many costs that have been soaring in Singapore, where core inflation has accelerated to the fastest in more than 10 years on rising prices of food, retail goods and energy.
Category A premiums for small cars (up to 1,600cc & 97kW) or electric vehicles with output of up to 110 kW shot up to S$73,801 by 8.53 per cent.
Large cars, Category B (above 1,600cc or 97kW) or electric vehicles with output over 110kW, premiums increased from S$95,889 in the previous bidding exercise to S$100,684.
In the open Category E, which can be used for any type of vehicles except motorcycles, premiums went up to S$100,697 by 5 per cent.
For Cat C – goods vehicles and buses – COE prices rose to S$53,002 by 2.91 per cent.
Category D in the motorcycle category saw premiums at S$10,000, versus S$9,490 in the previous bidding exercise.
For context, the COE is almost over RM$350,000!
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Read more about COE for large cars crosses S$100,000 here https://onemotoring.lta.gov.sg/content/onemotoring/home/buying/coe-open-bidding.html