COE premiums all close lower in latest bidding exercise - CNA

Category A premiums fell to S$131,890 after hitting a record high in the last bidding exercise.

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SINGAPORE: Certificate of Entitlement (COE) premiums closed lower across the board in the latest bidding exercise on Wednesday (Sep 23).

For Category A cars, or those 1,600cc and below with horsepower not exceeding 130bhp, premiums closed at S$131,890 (US$103,000), down 0.84 per cent from a record high of S$133,009 in the last exercise.

Premiums for larger and more powerful cars in Category B fell 1.48 per cent to S$133,000 from S$135,001.

COEs for commercial vehicles, which include goods vehicles and buses, fell 1.03 per cent to S$92,144 from S$93,101 in the previous bidding exercise.

CNA Games Guess Word Crack the word, one row at a time Buzzword Create words using the given letters Mini Sudoku Tiny puzzle, mighty brain teaser Mini Crossword Small grid, big challenge Word Search Spot as many words as you can Show More Show Less Motorcycle premiums closed at S$12,201, down 2.83 per cent from S$12,556 in the last exercise.

Open category COEs, which can be used for any vehicle type but end up being used mainly for large cars, decreased by 0.64 per cent to S$137,000 from S$137,890 in the last exercise.

A total of 4,210 bids were received, with a quota of 3,229 COEs available.

The COE quota for August to October stands at 19,085 – up 0.2 per cent from the previous quarter.

In a statement after Wednesday's bidding exercise, the Land Transport Authority (LTA) said: "COE prices remain elevated, although they have fallen across the categories compared with the previous bidding exercise, which was conducted over three weeks instead of the usual two weeks."

LTA also noted that Category A and Category B premiums "remain similar", adding that its ongoing review of COE categorisation for cars aims to "differentiate between mass-market and higher-end cars more effectively".

The government announced in March that it would review the COE categorisation for cars, following the convergence of Category A and Category B COE prices. Category A COE premiums have exceeded those for Category B three times this year – on Feb 20, Apr 22 and Jun 17.