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COE prices for cars close lower in latest bidding exercise, premium for motorcycles hits new high

COE prices for cars close lower in latest bidding exercise, premium for motorcycles hits new high

File photo of cars and other vehicles on a highway in Singapore. (Photo: CNA/Jeremy Long)

SINGAPORE: Certificate of Entitlement (COE) premiums for cars and those in the Open Category closed lower, while the premium for motorcycles hit a new high of S$11,589 in the latest bidding exercise on Wednesday (Sep 21). 

Premiums for Category A cars, or those 1,600cc and below with horsepower not exceeding 130bhp, closed at S$84,000, down from S$86,000 in the previous exercise.

Premiums for larger and more powerful cars in Category B fell to S$108,051 from a record high of S$113,000. 

Open Category COEs, which can be used for any vehicle type but end up being used mainly for large cars, fell to S$107,201 from S$113,299.

The premium for motorcycles rose to S$11,589, up from S$11,301 in the previous exercise. This is a new record, surpassing the previous high of S$11,400 set in March this year.

Category C COEs, which are for commercial vehicles including goods vehicles and buses, rose to S$67,001 from S$64,989 in the previous bidding exercise.

A total of 2,424 bids were received, with a quota of 1,785 COEs available.

This is the fourth tender under the revised method for counting the quarterly COE quota, aimed at reducing volatility in supply. 

Under the adjusted counting method, the COE supply will be based on a rolling average of vehicle deregistrations over two quarters instead of one.

Source: CNA/yb(mi)
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