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Singapore

COE prices close higher across all categories in latest bidding exercise

COE prices close higher across all categories in latest bidding exercise

Cars on a road in Singapore. (Photo: Nuria Ling/TODAY)

SINGAPORE: Certificate of Entitlement (COE) premiums closed higher in the latest bidding exercise on Wednesday (Aug 5).

For Category A cars, or those 1,600cc and below with horsepower not exceeding 130bhp, premiums closed at S$33,000, up from S$32,699 in the last exercise.

Premiums for larger and more powerful cars in Category B rose to S$37,102 from S$35,001.

COEs for commercial vehicles, which include goods vehicles and buses, rose to S$24,100 from S$23,888 in the previous bidding exercise.

Motorcycle premiums closed at S$7,701, up from S$6,510 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$36,502 from S$35,001.

A total of 6,194 bids were received, with a quota of 3,287 COEs available.

READ: Fewer COEs available from August to October

COE QUOTA SHRINKS

A total of 18,626 COEs will be available from August to October, the Land Transport Authority (LTA) announced on Jul 25.  

This is a drop from the 19,055 COEs for the February to April period.

COE bidding resumed in early July following the suspension of exercises in April, May and June due to the closure of motor vehicle dealerships and showrooms as part of COVID-19 restrictions.

Source: CNA/ac

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