COE premiums close relatively higher in first bidding exercise of 2019

Category B vehicles reported the highest increase of $1,199 in premiums.

Certificate of Entitlement (COE) premiums closed mostly higher in the first bidding exercise of 2019, an announcement revealed.

Category B vehicles, or those which are above 1600cc or 130bhp, saw the highest increase with premiums rising $1,199 from $31,335 to $32,200.

Category A cars which are vehicles up to 1600cc and 130 bhp closed at $25,920 which is an increase of $419 from the last exercise in December 2018. However, bids received for such vehicles came in at 2,707 which was the largest amongst the categories.

Goods vehicles and buses under Category C saw its premiums rise by $1, coming in at $27,002 from $27,001.

Open category COEs which can be used for any vehicle type rose to $32,909 from $31,809 which is a difference $1,100 from the last bidding exercise.

Overall, a total of 7,169 bids were received. A quota of 5,048 COEs issued was also recorded.