SINGAPORE: Certificate of Entitlement (COE) premiums closed mostly lower in the latest bidding exercise on Wednesday (Dec 5), with prices for smaller cars plunging to the lowest in nearly nine years.
For Category A cars, or those 1,600cc and below with horsepower not exceeding 130bhp, premiums closed at S$23,568, down from S$25,000 in the last exercise. This is the lowest since Mar 10 2010, when premiums were S$20,802; it also beat the previous 2018 low in July.
Premiums for larger and more powerful cars in Category B fell to S$31,001 from S$31,101.
COEs for commercial vehicles, which include goods vehicles and buses, fell to S$27,009 from S$27,509 in the previous bidding exercise.
Motorcycle premiums closed at S$3,399, up from S$2,989 in the last exercise.
Open category COEs, which can be used for any vehicle type but end up being used mainly for large cars, fell to S$30,851 from S$30,959.
A total of 6,950 bids were received, with a quota of 5,119 COEs available.