SINGAPORE: Certificate of Entitlement (COE) premiums closed lower in the latest bidding exercise on Wednesday (Feb 5), with the exception of prices for the motorcycle category.
For small cars in Category A, premiums closed at S$85,000 (US$62,975). This is down from S$93,601 in the last exercise, and the lowest since March 2024.
Premiums for larger and more powerful cars in Category B fell to S$111,104 from S$116,625.
COEs for commercial vehicles, which include goods vehicles and buses, fell to S$62,506 from S$65,476 in the previous bidding exercise.
Open category COEs, which are mainly used for large cars although they can be used for any vehicle type, fell to S$110,000 from S$115,112.
Motorcycle premiums closed at S$8,289, up from S$7,709 in the last exercise.
A total of 3,934 bids were received, with a quota of 2,869 COEs available.
This is the first tender under the February to April quota, which is up by 8 per cent compared with the previous quarter.
The number of COEs was increased to 17,133, up from 15,834 in the last quarter, which had also seen an increase in the quota.
This overall increase in supply aligns with the government's plan to gradually introduce up to 20,000 additional COEs across all vehicle categories in February and over the coming years.
The decision takes into account the upcoming implementation of the ERP 2.0 system for managing traffic congestion.
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