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COEs premiums for cars increase despite boost in quotas

SINGAPORE – Certificate of Entitlement (COE) premiums for big and small cars rose marginally on Thursday (May 5) from the last bidding exercise two weeks ago, despite a bumper-supply of 815 more COEs throughout all categories.

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TODAY file photo

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SINGAPORE – Certificate of Entitlement (COE) premiums for big and small cars rose marginally on Thursday (May 5) from the last bidding exercise two weeks ago, despite a bumper-supply of 815 more COEs throughout all categories.

The premiums for big and small cars inched up 1.2 and 2.8 per cent respectively. Premiums for small cars (up to 1,600cc and 97kW) rose S$589 to S$47,889, while premiums for big cars (above 1,600cc and 97kW) increased by S$1,408 to S$51,010.

This is despite quotas for small cars increasing by 156, from 2,062 premiums the previous round. Quotas for big cars went up by 251 COEs, from 1,211 the previous round.

Premiums for the remaining categories saw a decrease of up to 3.1 per cent.

The Open category saw a 1 per cent drop from S$49,501 to S$49,000, after rising by up to 4.2 per cent in the last two bidding exercises. COEs in this category can be used for any vehicle type but end up being used mainly for cars.

Premiums for other categories – motorcycles, as well as goods vehicles and buses – continued to fall from the previous round.

The premiums for Motorcycles (Category D) – saw the biggest percentage drop, falling 3 per cent from S$6,501 to S$6,302 – continuing its downward trend since the first round of COE bidding in April.

Category C premiums for goods vehicles and buses fell by 1.6 per cent – dropping $700 from $43,002 to $42,302.

A total of 8,104 bids were received – 901 more than the previous round, with a boosted quota of 5,061 COEs available.

Correction: We previously reported that 546 more bids were received this round compared to previously. This is incorrect. This time around, there were 901 more bids. We are sorry for the error.

 

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