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Singapore

COE prices close mostly higher; motorcycle premiums fall after new measures

COE prices close mostly higher; motorcycle premiums fall after new measures

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

SINGAPORE: Certificate of Entitlement (COE) prices rose across all categories on Wednesday (Mar 23) except for motorcycle premiums, which fell after new measures were introduced starting from this tender.

Motorcycle premiums reached record highs in recent months, prompting the Land Transport Authority (LTA) to raise the bid deposit for this category to “encourage prudent bidding behaviour”. LTA also shortened the validity of temporary COEs for motorcycles from six months to three months. 

In the latest bidding exercise, motorcycle premiums closed at S$10,501, down 7.9 per cent from a record S$11,400 in the previous tender.

For Category A cars - or those 1,600cc and below with horsepower not exceeding 130bhp - premiums closed at S$71,556, up from S$68,501 in the previous exercise.  

Premiums for larger and more powerful cars in Category B rose to S$98,889, surpassing the record S$94,889 in the previous round of bidding. 

For the Open category, which can be used for any vehicle type but usually end up being used for large cars, prices went up from S$98,890 to S$99,010. 

COEs for commercial vehicles, which include goods vehicles and buses, rose to S$51,504, up from S$48,889 in the previous round of bidding. 

A total of 2,758 bids were received, with a quota of 1,778 COEs available.

Source: CNA/az(gs)

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