COE prices for cars lower in latest bidding exercise

Cars up to 1,600cc and 130bhp saw the biggest decline in prices.

Certificate of Entitlement (COE) premiums closed lower in the latest bidding exercise, an announcement revealed.

For Category A cars which are those 1,600cc and below with horsepower not exceeding 130 brake horsepower (bhp), premiums closed at $25,000. This is $3,199 lower from the last bidding exercise.

Premiums for cars above 1,600cc or 130bhp in Category B closed at $31,101 which is lower compared to the $32,302 from the last exercise.

For goods vehicles and buses under Category C, premiums declined $1,992 to $27,509 whilst premiums for open category COEs which can be used for any vehicle type fell to $30,959 from $32,000.

Meanwhile, category A cars issued the most number of COEs at 1,818. It was followed by category B (1,241), the open category (552) and category C (331).

A total of 5,527 bids participated in the latest COE bidding round. Of these, 1,786 bids were reported for Category B cars.