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Singapore

COE premiums close lower across the board, Category B registers largest drop

COE premiums close lower across the board, Category B registers largest drop

File photo of cars, motorcycles and heavy vehicles on Singapore roads. (Photo: CNA/Jeremy Long)

SINGAPORE: Certificate of Entitlement (COE) premiums fell across all categories in the latest bidding exercise on Wednesday (Apr 20).

For Category A cars - or those 1,600cc and below with horsepower not exceeding 130bhp - premiums closed at S$68,699, down from S$72,996 in the previous exercise. 

Premiums for larger and more powerful cars in Category B dropped to S$90,002 from S$98,389.

For Open category COEs, which can be used for any vehicle type but end up being used mainly for large cars, prices fell to S$95,801 from S$99,999.

Motorcycle premiums closed at S$9,801, down from S$10,503 in the previous bidding exercise.

COEs for commercial vehicles, which include goods vehicles and buses, fell to S$52,002 from S$54,901.

A total of 2,446 bids were received, with a quota of 1,756 COEs available.

This is the last tender under the current COE quota, which is at an eight-year low. For the May to July bidding exercise, the supply will increase by 14.3 per cent to 11,951.

Source: CNA/gr

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