The Big Story: Cat A COE premium blasts past a new record of $128,105. How much higher can COE prices go?
Description
The certificate of entitlement (COE) premium for smaller cars and electric vehicles (EVs) reached another high of $128,105 at the Oct 8 exercise, up 7.6 per cent from the previous tender.
This is the third consecutive tender where a record was set in Category A, which is meant for smaller and less powerful cars and EVs. The previous high was $119,003, recorded at the tender on Sept 17.
The premium for Category B COEs, used to register larger and more powerful cars and EVs, was $141,000 – a 3 per cent increase from the $136,890 registered at the last exercise.
It is the highest the Category B COE price has been since the record of $150,001 was set in October 2023.
What’s driving this relentless climb, and how much higher can prices go? Plus, what does this mean for the average car buyer trying to navigate this market?
On The Big Story, Hongbin Jeong speaks with Lee Nian Tjoe, Senior Transport Correspondent, The Straits Times, to find out more.
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