After the latest open bidding exercise for the Certificate of Entitlement on Wednesday, it has been confirmed that the premiums for cars have decreased while it has increased for motorcycles and commercial vehicles.
(Image from onemotoring.com.sg)
Premiums for cars
The premiums for big cars (1601cc and above) dropped the most in the category, dropping by almost 5% from S$75300 from S$79000. On the other hand, COE premiems for smaller cars (1600cc and below) dropped by only 1% from S$72290 in the previous bidding.
The COEs that can be used for every vehicle type (in the open category) also dropped by approximately 2% from S$77003 to S$78811.
Premiums for motorcycles and commercial vehicles
The premium for motorcycles increased by the most – a sharp 13% increase and is set at S$3051 from S$2704 earlier this year in January.
Premiums for commercial vehicles, such as buses and goods vehicles, is 2% higher than the previous premium. It has increased from S$51002 to S$50001.