SINGAPORE: Certificate of Entitlement (COE) premiums for most categories hit new highs for 2024 in the latest bidding exercise on Wednesday (Oct 9).

For Category A cars, or those 1,600cc and below with horsepower not exceeding 130bhp, premiums closed at S$103,799 (US$79,600), up from the previous high of S$98,524 on Sep 18.

Premiums for larger and more powerful cars in Category B rose to S$116,002 from S$110,001 in the last exercise. The previous record for the year was S$112,000 on Jan 17.

Open category COEs, which can be used for any vehicle type but end up being used mainly for large cars, rose to S$116,000 from the previous high of S$113,104 on Sep 18. 

COEs for commercial vehicles, which include goods vehicles and buses, rose to S$75,009 from S$74,000 in the previous bidding exercise. The last time it was higher was in March, when the price for Category C vehicles hit S$75,599.

Motorcycle premiums closed at a new high of S$10,001, up from S$9,900 in the last exercise. 

A total of 3,959 bids were received, with a quota of 2,585 COEs available.

The overall supply of COEs is set to increase by close to 4 per cent in the next quarter. 

There will be 15,834 COEs available for the period between November 2024 to January 2025 - up from the 15,283 in the previous quarter, the Land Transport Authority (LTA) announced last week.

Bidding under the new quota will start on Nov 4.

Editor's note: An earlier version of this article said COE premiums hit new 2024 highs across all categories. This is incorrect. We apologise for the error.ditowins

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