COE premiums for cars mostly unchanged; prices up for commercial vehicles and motorcycles
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 (Jul 23).
For Category A cars, or those 1,600cc and below with horsepower not exceeding 130bhp, premiums closed at S$101,102 (US$79,115), unchanged from the last exercise.
Premiums for larger and more powerful cars in Category B fell slightly to S$119,101 from S$119,600.
COEs for commercial vehicles, which include goods vehicles and buses, rose to S$68,600 from S$66,689 in the previous bidding exercise.
Motorcycle premiums closed at S$9,511, up 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, rose to S$120,000 from S$118,500.
A total of 4,480 bids were received, with a quota of 3,059 COEs available.
In April, the Land Transport Authority announced that the COE quota for the May to July period will increase by more than 6 per cent compared to the previous quarter.
The total number of COEs will rise to 18,232, up from 17,133 in the last quarter, which already saw an 8 per cent increase.
Compared with the same period year-on-year, there will be an increase of 21 per cent in the total quota.
