COE premiums close mixed in latest round of bidding

SINGAPORE: Certificate of Entitlement (COE) premiums closed mixed in the latest bidding exercise on Friday (May 6).

The largest drop was for open category COEs - which can be used for any vehicle type but end up being used mainly for large cars - with prices falling to S$91,112 from S$95,801. 

For Category A cars, premiums closed at S$70,901, up from S$68,699 in the previous exercise. 

The category includes cars with an engine capacity of 1,600cc and below, with horsepower not exceeding 130bhp. 

From Friday's bidding exercise onwards, Category A also includes fully electric cars with maximum power output up to 110kW, or 147bhp. 

Premiums for larger and more powerful cars in Category B rose to S$92,090 from S$90,002.

Category B comprises cars with engine capacity above 1,600cc or with horsepower above 130bhp, and now also includes fully electric cars with maximum power output above 110kW.

Meanwhile, motorcycle premiums closed at S$9,489, down from S$9,801 in the previous bidding exercise.

COEs for commercial vehicles, which include goods vehicles and buses, fell to S$50,890 from S$52,002.

A total of 2,743 bids were received, with a quota of 2,001 COEs available.

This is the first tender under the new COE quota, which is up 14.3 per cent from the February to April period.