SINGAPORE: Certificate of Entitlement (COE) prices for larger vehicles fell in the newest bidding exercise on Wednesday (Aug 3) after premiums hit a record in two previous rounds.
This is the 1st tender under the revised method for counting the quarterly COE quota , aimed at reducing volatility in supply.
Premiums with regard to larger and more powerful cars in Group B fell to S$107, 001 through S$110, 003.
Open category COEs, which can be used for any kind of vehicle type but end up being used primarily for large vehicles, fell to S$113, 000 from S$114, 001.
Intended for Category A cars, or those 1, 600cc and below with horsepower not really exceeding 130bhp, monthly premiums closed at S$80, 000, up through S$78, 899 in the last exercise.
COEs for commercial vehicles, which include goods automobiles and buses, flower to S$56, 089 from S$54, 889 in the previous bidding workout.
Motorcycle premiums closed at S$11, 000, up from S$10, 910 in the last exercise.
An overall total of 2, 458 bids were received, with a quota of just one, 863 COEs accessible.
Under the modified counting method, the COE supply will be based on a rolling average of vehicle deregistrations over two quarters instead of one.
For the August in order to October quarter, the COE quota is 11. 5 per cent less than what was obtainable in the previous quarter.