SINGAPORE: Certificate of Entitlement (COE) premiums for small cars plunged to the lowest in more than eight years as prices fell across the board in the latest bidding exercise on Wednesday (Jul 4).
For Category A cars, or those 1,600cc and below with horsepower not exceeding 130bhp, premiums closed at S$25,000, down from S$34,110 in the last exercise.
It was the lowest since Mar 10, 2010, when premiums were S$20,802.
Prices for larger and more powerful cars in Category B fell to S$31,000 from S$33,900.
Open category COEs, which can be used for any vehicle type but end up being used mainly for large cars, fell to S$31,001 from S$34,400.
Motorcycle premiums closed at S$6,514, down from S$6,889 in the last exercise.
COEs for commercial vehicles, which include goods vehicles and buses, fell to S$31,092 from S$32,001 in the previous bidding exercise.
A total of 5,580 bids were received, with a quota of 4,239 COEs available.