SINGAPORE:
Certificate of Entitlement (COE) premiums for vehicles closed mostly
higher at the close of the latest round of bidding on Wednesday.
COE premiums for small cars closed at S$59,421, up from S$59,004 in the previous bidding exercise on June 20.
COE for big cars dropped to S$82,289, compared with S$85,400 previously.
In the Open Category, which is mostly used for big cars, prices ended at S$86,999, compared with S$84,389.
Premiums for goods vehicles and buses closed at S$55,556, going up by S$1,054 from the previous bidding.
For motorcycles, the COE will cost S$1,760, compared with S$1,712 previously.
Honorary
secretary for the Singapore Vehicle Traders Association, Raymond Tang
said prices mostly went up because of the expected tightening of COE
quotas next month.
"These two rounds will be quite a tough round because this is the last two round before the COE will be reduced even further.
"So
they think this is the last two rounds they have chances to go in and
bid. And the number of COE is already not enough to supply the demand in
the market, so that is why it causes the majority of the categories to
go up or stabilise around that range."
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