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SINGAPORE : COE premiums for vehicles rose in all categories in the latest bidding exercise.
The biggest rise of S$4,089 was seen in the small-car category. The premium for this category (Category A) is now S$33,089.
Meanwhile COE price for big cars (Category B) jumped S$1,319 to S$44,129.
In the Goods Vehicles and Bus Category, the premium rose S$2,998 to S$33,000.
Motorcycle COE was up S$251 to S$1,502.
The premium in the Open Category rose S$500 to S$44,001.
At the Volkswagen Group, car sales in August were about 20 to 30 per cent lower than in July.
Leon Gumpert, general manager of sales at Volkswagen Group, believes consumers were not keen to buy big-ticket items during the month of the Hungry Ghost Festival, which has just ended.
However he expects sales to pick up for the rest of this year.
"I think that people would continue to buy cars in fear of the COE (prices) going up further. Currently the deregistration rates are very low, so we expect COE quotas to be reduced further. Also, the economic sentiment at the moment is very strong, with equity prices picking up and employment rates improving," he said.
- CNA/ir
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