COE premiums down across the board, Category A closes at S$110,002
Cars and other vehicles in Singapore. (File photo: CNA/Jeremy Long)
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SINGAPORE: Certificate of Entitlement (COE) premiums closed lower in the latest bidding exercise on Wednesday (Nov 5).
For Category A cars, or those 1,600cc and below with horsepower not exceeding 130bhp, premiums closed at S$110,002 (US$84,000), down 9.8 per cent from S$122,000 in the last exercise.
Premiums for larger and more powerful cars in Category B fell to S$115,001 from S$131,889, dropping 12.8 per cent.
COEs for commercial vehicles, which include goods vehicles and buses, fell slightly to S$76,000 from S$76,801 in the previous bidding exercise, a 1 per cent drop.
Motorcycle premiums closed at S$8,600, down 8.4 per cent from S$9,389 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 11 per cent to S$121,010 from S$136,000.
A total of 4,167 bids were received, with a quota of 3,209 COEs available.
This is the first tender under the new quota for the November to January period, during which the overall COE supply will go up by 1.5 per cent - the smallest increase in recent quarters.
In a statement on Wednesday, the Land Transport Authority (LTA) noted the drop in COE premiums for this exercise.
"We advise car buyers and dealers to continue to be prudent in bidding for COEs," an LTA spokesperson added.
