COE prices close mostly higher in latest bidding exercise
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SINGAPORE: Certificate of Entitlement (COE) premiums closed mostly higher in the latest bidding exercise on Wednesday (Mar 20).
For Category A cars, or those 1,600cc and below with horsepower not exceeding 130bhp, premiums closed at S$85,489 (US$63,630), up from S$83,000 in the last exercise.
Premiums for larger and more powerful cars in Category B rose by a dollar to S$96,011.
COEs for commercial vehicles, which include goods vehicles and buses, fell to S$70,112 from S$75,599 in the previous bidding exercise.
Motorcycle premiums closed at S$9,689, up from S$9,400 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$95,856 from S$95,010.
A total of 4,186 bids were received, with a quota of 2,472 COEs available.
The COE quota for the February to April quarter was increased by 2 per cent, bringing the total to 14,707 for the three-month period.
This is a sharp drop in the rate of increase from the previous quarter, when the COE supply jumped 27 per cent in the quarter from November 2023 to January 2024.
