SINGAPORE: Certificate of Entitlement (COE) premiums for commercial vehicles, which fall under Category C, rose by about S$8,000 to a record S$85,119 on Wednesday (Feb 8).
Category C includes goods vehicles and buses. The previous high was S$81,802 in November last year.
The bidding exercise that closed on Wednesday is the first under the new quota and the revised method for computing COE quotas, which is meant to reduce supply volatility.
Premiums were mixed, with Category A cars – or those 1,600cc and below with horsepower not exceeding 130bhp – closing at S$86,000, unchanged from the previous exercise.
Premiums for larger and more powerful cars in Category B meanwhile fell to S$105,524 from S$105,549.
For Open Category COEs, which can be used for any vehicle type but end up being used mainly for large cars, prices fell to S$105,002 from S$107,000.
Motorcycle premiums closed at S$11,602, up from S$11,101 in the previous bidding exercise.
A total of 2,174 bids were received, with a quota of 1,589 COEs available.
Under the new quota that covers the February to April period, there is a 3.4 per cent increase in the overall supply from the previous quarter.