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COE premiums for motorcycles close at record S$10,000 as prices rise across the board

COE premiums for motorcycles close at record S$10,000 as prices rise across the board

File photo of cars, motorcycles and heavy vehicles on Singapore roads. (Photo: CNA/Jeremy Long)

SINGAPORE: Certificate of Entitlement (COE) premiums for motorcycles hit a record high in the last bidding exercise of the November-January quarter as prices went up across all categories on Wednesday (Jan 19). 

Motorcycle premiums closed at S$10,000, up from the previous mark of S$9,689 recorded two weeks ago and in September 2021.

For Category A cars, or those 1,600cc and below with horsepower not exceeding 130bhp, premiums closed at S$57,898, up from S$57,599 in the last exercise.

Premiums for larger and more powerful cars in Category B rose to S$82,001 from S$77,700.

COEs for commercial vehicles, which include goods vehicles and buses, increased to S$43,001 from S$42,200 in the previous bidding exercise.

Open category COEs, which can be used for any vehicle type but end up being used mainly for large cars, rose to S$83,911 from S$82,501.

A total of 2,513 bids were received, with a quota of 1,775 COEs available.

This is the last bidding exercise under the current quota for the quarter.

For February to April, the quota is at an eight-year low as the Government maintains Singapore's vehicle growth rate at zero until Jan 31, 2025.

Source: CNA/gs(gr)

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