COE

This was the first tender exercise to include the new 110kw power categorisation for EVs, which was announced in March. PHOTO: ST FILE.

The last time this happened was at the second tender exercise in February, when COE prices for both categories shot above $90,000. Another factor may be dealers who missed out on the lower premiums in last month’s bidding overcompensating to secure the COEs. They will be due by the middle of June. The price of motorcycle COEs continued to trend downwards. This was the first tender exercise to include the new 110kw power categorisation for EVs, which was announced in March. It was also the first under the new three-month quota period from May to July, which has 14.3 per cent more COEs available overall than the previous period. COE premiums for cars above 1,600cc or 130bhp, as well as EVs with more than 110kw, rose by 2.3 per cent from $90,002 to $92,090.