In the most recent bidding exercise, on Wednesday ( Mar 5 ), Certificate of Entitlement ( COE ) premiums closed largely higher.
Premiums for Category A vehicles, or those with a 1,600cc and less hp and a 130bhp or less, closed at S$ 92, 730 ( US$ 69, 400 ), downward from S$ 92, 850 in the previous workout.
From S$ 099, 598 to S$ 113, 000, premiums for larger, more potent vehicles in Category B increased.
COEs for corporate cars, which include cars and products vehicles, increased from S$ 65, 189 to S$ 67, 001 in the previous selling practice.
In the previous exercise, motorcycle rates closed at S$ 9 and S$ 201, away from S$ 8 and 791.
Open class Offerings increased to S$ 112, 901 from S$ 110, 002 and can be used for any car form but are primarily used for large automobiles.
4, 682 proposals were submitted overall, with a limit of 2, 892 COEs accessible.
All newly registered or converted hired private-hire vehicles that are owned by companies and all other types of vehicles that are transferred from persons to firms were required to have a three-year lock-in time in February, according to LTA.
According to LTA, the new principle makes sure that businesses that buy these private-hire vehicles do but primarily for the purpose of leasing them to drivers who offer ride-hail services.
Additionally, it prevents the unauthorized removal of these cars from the private-hire vehicles program, which will have an impact on the availability of cars for point-to-point services.