COE prices closed mostly lower; premiums for larger cars drop by nearly S$6,000
Vehicles in Singapore. (File photo: Â鶹/Syamil Sapari)
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SINGAPORE: Certificate of Entitlement (COE) premiums closed mostly lower in the latest bidding exercise on Wednesday (Dec 3).
Premiums for larger and more powerful cars in Category B fell the most. They dropped by nearly S$6,000 or 4.6 per cent - from S$129,890 to S$123,900 (US$95,600).
For Category A cars, premiums closed at S$105,413, down 3.3 per cent from S$109,000 in the last exercise.
Motorcycle premiums closed at S$8,289, down 5 per cent from S$8,729 in the last exercise.
Open category COEs, which can be used for any vehicle type but usually end up being used mainly for large cars, fell to S$123,000, down 1.6 per cent from S$125,001.
Only COE premiums for commercial vehicles, which include goods vehicles and buses, rose by 0.1 per cent to S$76,501, from S$76,389 in the previous bidding exercise.
A total of 4,194 bids were received, with a quota of 3,193 COEs available.
In a statement on Wednesday, the Land Transport Authority (LTA) noted that COE prices remain elevated, but are "marginally lower than for recent exercises because of lower seasonal demand".
"We advise car buyers and dealers to be prudent in bidding for COEs," it added.
