COE premiums close higher in latest bidding exercise
Vehicles along a busy road in Geylang, Singapore. (Photo: CNA/Jeremy Long)
This audio is generated by an AI tool.
SINGAPORE: Certificate of Entitlement (COE) premiums closed higher in the latest bidding exercise on Wednesday (Aug 7).
For Category A cars, or those 1,600cc and below with horsepower not exceeding 130bhp, premiums closed at S$94,289 (US$71,000), up from S$91,899 in the last exercise.
Premiums for larger and more powerful cars in Category B rose to S$106,101 from S$100,000.
COEs for commercial vehicles, which include goods vehicles and buses, rose to S$71,100 from S$70,601 in the previous bidding exercise.
Motorcycle premiums closed at S$9,601, up from S$9,089 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$105,239 from S$100,341.
A total of 3,953 bids were received, with a quota of 2,589 COEs available.
The Land Transport Authority (LTA) announced in July that the supply of COEs for the August to October period will go up by 1 per cent compared with the previous quarter.
There will be a total of 15,283 COEs, an increase from 15,104 in the previous quarter.
The quota for Category A, which is for smaller cars, will go up by 1.5 per cent, while COEs in Category B for larger cars will rise by 0.9 per cent.
For commercial vehicles in Category C, the COE supply will increase by 5.4 per cent.
COEs for vehicles in Category E or the Open Category, which is typically used to register larger cars, will see a 1.2 per cent decrease.
The quota for motorcycles in Category D will remain unchanged.
