There were slight changes in COE prices in most other categories: Premiums for small cars (up to 1,600cc and 97kW) went up from S$63,880 to S$63,990, while premiums for the Open Category — which can be used for any vehicle type but end up being used mainly for big cars — inched up to S$72,201, from S$$72,003.
COE prices for big cars (above 1,600cc and 97kW) dipped from S$72,180 to S$72,002.
There was a significant drop in motorcycle premiums, which had risen for seven consecutive bidding exercises since July. In the latest exercise, they fell 8.1 per cent to S$4,412.
Premiums for Category C (goods vehicles and buses) rose 6.3 per cent to S$61,000, from S$57,389 at the last bidding exercise two weeks ago. Seeing its the largest jump to $61,000. This is largely due to Land Transport Authority’s plans to cut Category C quota for the next three months.
Category C price hit a record-high of $76,310 in October 2013, so there might be room for Category C prices to increase further. High Category C prices may see businesses transferring the costs to consumers, and place a strain on Small – Medium Enterprises (SMEs), such as school bus operators.
Business owners should not be paying for LTA’s decision to give generous quotas for Category B luxury cars, while keeping the quota for Category C low.