Small car COE premium rebounds sharply in latest bidding exercise

Cat A price surged to $51,301.

The Certificate of Entitlement (COE) premium for small cars surged steeply in the second bidding exercise for January.

Bidding results from the Land Transportation Authority (LTA) showed that the Category A premium rose by $6,299 to $51,301. This comes after the premium for small cars saw a steep $9,000 drop in the first bidding exercise of the year.

A total of 3,437 bids were received in this category, against a quota of 1,659. This compares with just 2,013 bids received in the first bidding exercise two weeks ago.

However, the premium for bigger cars or Category B dropped to $50,089 from $54,920 two weeks ago. Premiums for the open category, or Cat E, also dropped to $51,000 from $55,089 in the previous bidding exercise.

Category D premium dropped to $6,512, while the premium for goods vehicles, or Cat C, rose to $46,502.

A total of 6,286 bids across all categories were received for the latest bidding exercise.