COE prices closed lower in latest bidding exercise

Category A vehicles saw the biggest premium decline of $9,704 to $27,000.

Certificate of entitlement (COE) premiums closed lower in the latest bidding exercise, an announcement revealed.

Category A, or cars up to 1600cc and 130bhp, recorded the largest dip of $9,704 with premiums closing at $27,000 from $36,704 earlier in May. That said, it received the highest amount of bids at 1,799.

Premiums for Category B vehicles, which are larger and more powerful, dropped $5,446 from the last bidding exercise to $42,564. A total of 1,407 bids were also reported.

Commercial vehicles and buses under Category C saw a $1,159 drop in premiums, declining to $27,400 from $28,559 in the last bidding exercise.

Motorcycle COEs closed at $3,202, down from $3,352 in the last exercise.

Meanwhile, prices for open category COEs which can be used for any vehicle type declined $5,502 to $47,000.

A total of 5,625 bids were received in the latest bidding exercise.