SINGAPORE: On Wednesday, October 18, the Certificate of Entitlement ( COE ) premium for Category B reached new highs for all car categories, breaking the S$ 150, 000 ( US$ 109, 500 ) mark for the first time in the most recent bidding exercise.
Premiums for bigger, more potent vehicles in Category B are presently record-breaking S$ 150,001, up from S$ 146,002 in the previous auction.
Available category COEs, which can be used for any kind of vehicle but are typically used with big cars, even increased to a report level of S$ 158, 004 from S$ 152,000.
The S$ 140, 000 barrier was only broken a month ago by COE premiums in Category B and Open Category & nbsp. & nbsp,
Premiums closed at a report South$ 106 000 for Category A vehicles, or those with horsepower no higher than 130 bhp.
Business vehicle Submissions, which include products automobiles and buses, decreased from S$ 855, 900 to S$ 84, 790.
Motorcycle rates closed at S$ 11, 201, an increase from S$ 10, 856 during the previous exercise.
There were 2, 697 full requests received, with a limit of 2, 023 Submissions.
Since the Land Transport Authority( LTA ) announced it would reallocate an additional 300 Category A COEs for October, this is the second bidding process. & nbsp,
The Category A limit that is available for the quarter has increased by 24 % as a result. Additionally, 150 COEs may be added to each of the two October selling exercises.
The COE quota will rise by 13 % starting next month in the upcoming quarter from November 2023 to January 2024.
There will be a complete of 12,774 Submissions for the third, with the biggest increases in categories A and C, according to LTA on October 13.