In the latest Certificate of Entitlement (COE) bidding exercise on Thursday (4 May), premiums for most vehicle categories decreased under the new COE quota for the May-July quarter.
Category A, for smaller cars, saw premiums drop to S$101,001 (US$76,037), a reduction from the previous S$103,721. Category B, which includes larger and more powerful cars, experienced a decline in premiums to S$119,399, compared to the prior S$120,889.
Open category COEs, applicable to any vehicle type but primarily used for larger cars, also witnessed a slight decrease, with premiums falling to S$124,002 from the previous S$124,501.
On the other hand, COEs for commercial vehicles, which encompass goods vehicles and buses, experienced a marginal increase in premiums to S$75,589, up from S$75,334 in the previous bidding exercise.
A significant change was observed in motorcycle premiums, which closed at S$5,002, less than half of the S$12,179 from the last exercise. This bidding round introduced new measures for motorcycles, including a higher bid deposit of S$1,500 (up from S$800) and a reduction in the validity period for temporary COEs from three months to one month.
During this bidding exercise, a total of 2,226 bids were received, with a quota of 1,621 COEs available. The COE quota for the May to July period stands at 9,575, representing a 1.5% overall increase compared to the previous quarter.