COE premiums mostly down, Category A closes at S$122,000
Vehicles on a road in Kallang, Singapore. (File photo: CNA/Jeremy Long)
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SINGAPORE: The Certificate of Entitlement (COE) premium for Category A cars closed at S$122,000 in the latest bidding exercise on Thursday (Oct 23), snapping a streak of three straight increases.
Category A COEs - for cars 1,600cc and below with horsepower not exceeding 130bhp - went down to S$122,000 from S$128,105 in the last exercise, a 4.8 per cent decrease.
Premiums for other categories also fell.
Premiums for larger and more powerful cars in Category B fell to S$131,889, down 6.5 per cent from S$141,000.
Open category COEs, which can be used for any vehicle type but end up being used mainly for large cars, dropped by 2.9 per cent to S$136,000 from S$140,009.
COEs for commercial vehicles, which include goods vehicles and buses, rose to S$76,801 from S$74,301 in the previous bidding exercise, a 3.4 per cent increase.
Motorcycle premiums closed at S$9,389, down 4.3 per cent from S$9,810 in the last exercise.
A total of 4,384 bids were received, with a quota of 3,149 COEs available.
The Land Transport Authority (LTA) on Thursday said COE prices remained elevated due to sustained strong demand for COEs despite the quota supply for Category A certificates increasing by 29 per cent year-on-year.
"We advise car buyers and dealers to be prudent in bidding for COEs," LTA said.
