SINGAPORE: Certificate of Entitlement (COE) premiums closed mostly higher in the latest bidding exercise on Wednesday (Apr 9).
For Category A cars, or those 1,600cc and below with horsepower not exceeding 130bhp, premiums closed at S$97,724, up from S$94,502 in the last exercise.
Premiums for larger and more powerful cars in Category B rose to S$117,899 from S$116,890.
COEs for commercial vehicles, which include goods vehicles and buses, fell to S$68,782 from S$70,089 in the previous bidding exercise.
Motorcycle premiums closed at S$9,889, up from S$9,511 in the last exercise.
Open category COEs, which can be used for any vehicle type but end up being used mainly for large cars, rose to S$117,002 from S$116,991.
A total of 4,734 bids were received, with a quota of 2,882 COEs available.
Some vehicle rental firms saw about 30 per cent more business this Hari Raya compared to last year.
Higher COE prices were cited as one of the factors, with high costs driving families from car ownership towards renting on an ad hoc basis.
Last month, the Land Transport Authority introduced measures to stabilise the supply of private-hire cars, with an immediate requirement regarding the disclosure of a vehicle’s history for all newly registered, converted or transferred private-hire cars.
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