COE premiums close mostly higher in latest bidding exercise
Vehicles at a busy intersection in Sims Way, Singapore. (File photo: CNA/Jeremy Long)
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SINGAPORE: Certificate of Entitlement (COE) premiums closed mostly higher in the latest bidding exercise on Wednesday (Mar 5).
For Category A cars, or those 1,600cc and below with horsepower not exceeding 130bhp, premiums closed at S$92,730 (US$69,400), down from S$92,850 in the last exercise.
Premiums for larger and more powerful cars in Category B rose to S$113,000 from S$109,598.
COEs for commercial vehicles, which include goods vehicles and buses, rose to S$67,001 from S$65,189 in the previous bidding exercise.
Motorcycle premiums closed at S$9,201, up from S$8,791 in the last exercise.
Open category COEs, which can be used for any vehicle type but end up being used mainly for large cars, rose to S$112,901 from S$110,002.
A total of 4,682 bids were received, with a quota of 2,892 COEs available.
In February, LTA imposed a mandatory three-year lock-in period on all newly registered or converted chauffeured private-hire cars that are owned by businesses, and all such vehicles that are transferred from individuals to businesses.
The new rule ensures that businesses that acquire such private-hire cars do so predominantly for the purpose of leasing them to drivers who provide ride-hail services, said LTA previously.
It also prevents the premature conversion of such vehicles out of the chauffeured private-hire car scheme, which will affect the supply of vehicles available for point-to-point services.
