COE premiums close mostly higher in latest bidding exercise; Category A climbs to S$109,501
Category B COE prices also rose to S$121,634.
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 mainly higher in the latest bidding exercise on Wednesday (Jan 21).
For smaller cars in Category A cars, premiums closed at S$109,501 (US$85,300), up from S$102,009 in the last exercise.
Premiums for larger and more powerful cars in Category B rose to S$121,634 from S$119,100.
COEs for commercial vehicles, which include goods vehicles and buses, decreased to S$75,202 from S$75,503 in the previous bidding exercise.
Motorcycle premiums closed at S$8,860, up from S$8,689 in the last exercise.
Open category COEs, which are used mainly for large cars, dropped to S$120,891 from S$122,000.
A total of 4,979 bids were received, with a quota of 3,224 COEs available.
The latest COE premiums come after the Singapore Motorshow in January, where automakers showcased new vehicle models for sale.
In a statement on Wednesday, the Land Transport Authority (LTA) noted the increase in COE prices, attributing it to "seasonal demand" arising from the Singapore Motorshow and the upcoming Chinese New Year period.
"We strongly advise car buyers and dealers to be prudent in bidding for COEs," LTA said.
