COE premiums mostly lower in latest bid

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COE premiums mostly lower in latest bid

SINGAPORE -- Certificate of Entitlement COE premiums were mostly lower in the latest bidding exercise on Wednesday, with the exception of prices for motorcycles.

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

The premiums for larger and more powerful cars in Category B fell to S $95,856 from S $108,051.

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

The previous bidding exercise saw the premium for motorcycles go up, closing at S $11,751, breaking the previous record of $11,589 set in the previous bidding exercise.

COEs for commercial vehicles, which include goods 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 supply volatility.

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