SINGAPORE: Certificates of Entitlement (COE) premiums continued their upward trend, closing for the most part in the last bidding exercise on Wednesday (April 17).
For Category A cars, or those of 1,600cc and below with power not exceeding 130bhp, premiums closed at S $ 33,199, up from S $ 29,159 last year.
The premiums for bigger and more powerful cars in Category B increased to S $ 48,000 from S $ 43,102.
Open category COEs rose to S $ 52,410, from S $ 48,209. This is the highest number in more than a year and the first time it has surpassed the $ 50,000 mark since December 6, 2017.
The COEs of this category can be used for any type of vehicle, but end up being used mainly for big cars.
For commercial vehicles, which include freight vehicles and buses, COE premiums increased to S $ 32,001, from S $ 27,589 in the previous bidding exercise.
Motorcycle awards closed at S $ 3,452, down from S $ 3,501 last year.
A total of 6,239 proposals were received, with a quota of 4,395 COEs available.