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Singapore

COE premiums for motorcycles continue to rise, hitting new record of S$11,751

Premiums for other categories ended lower in the latest bidding exercise on Wednesday (Oct 5).

COE premiums for motorcycles continue to rise, hitting new record of S$11,751

File photo of cars on a highway in Singapore (Photo: Jeremy Long)

SINGAPORE: Certificate of Entitlement (COE) premiums for motorcycles continued to rise to a new high on Wednesday (Oct 5), while prices in other categories closed lower in the latest bidding exercise.

Premiums for motorcycles closed at S$11,751, breaking the previous record of $11,589 set in the earlier tender last month.

This marks the 10th successive bidding exercise where motorcycle premiums have risen. The upward trend started on May 19 when premiums rose by a dollar to S$9,490.

The largest price drop in the latest tender was in Category B for larger and more powerful cars. Premiums fell by about S$12,000 to S$95,856.

This is the first time in almost five months that Category B prices have fallen below S$100,000. Premiums breached the S$100,000 mark on Jun 8 and rose to a record S$113,000 on Sep 7.

For Category A cars, or those 1,600cc and below with horsepower not exceeding 130bhp, premiums closed at S$80,501 on Oct 5, down from S$84,000 in the last exercise.

For the Open category COEs, which can be used for any vehicle type but end up being used mainly for large cars, prices fell to S$105,001 from S$107,201.

COEs for commercial vehicles, which include goods vehicles and buses, fell to S$65,991 from S$67,001 in the previous bidding exercise.

A total of 2,363 bids were received, with a quota of 1,806 COEs available.

This is the fifth 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/nh(rj)
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