SINGAPORE: Certificate of Entitlement (COE) prices closed mostly lower in the latest bidding exercise on Wednesday (Feb 21), with the Open Category premium at its lowest since May 2022.
Open category COEs, which can be used for any vehicle type but end up being used mainly for large cars, fell to S$94,006 (US$69,998) from S$100,101.
For Category A cars, or those 1,600cc and below with horsepower not exceeding 130bhp, premiums closed at S$76,801, down from S$79,000 in the last exercise.
Premiums for larger and more powerful cars in Category B fell to S$97,000 from S$102,338.
COEs for commercial vehicles, which include goods vehicles and buses, rose to S$73,001 from S$72,001 in the previous bidding exercise.
Motorcycle premiums closed at S$8,911, down from S$9,290 in the last exercise.
A total of 4,277 bids were received, with a quota of 2,491 COEs available.
The Land Transport Authority (LTA) previously announced that the COE quota for the February to April quarter will go up by 2 per cent. There will be a total of 14,707 COEs for this three-month period.
This is a sharp drop in the rate of increase from the previous quarter, when the COE supply jumped 27 per cent in the quarter from November 2023 to January 2024.
