COE premiums close mostly higher in February bidding exercise

Category A vehicle premiums dropped whilst the rest saw increases.

Certificate of Entitlement (COE) premiums closed mostly higher in the February bidding exercise, an announcement revealed.

Category B vehicles, or those which are above 1600cc or 130 bhp, recorded a $520 increase from $33,989 in the last bidding exercise to $34,509.

Goods vehicles and buses under Category C premiums also closed at $26,378, an increase of $148 from the last bidding exercise in January.

Motorcycle premiums under Category D closed at $3,709, up from $2,889.

Open Category COEs which can be used for any vehicle type posted the largest increase of $1,621, closing at $35,310 from $33,689.

Premiums for Category A vehicles which are those up to 1600cc and 130bhp closed at $25,689, which is a $481 drop from the last bidding exercise. However, it received the highest number of bids at 2,371.

Overall, a total of 6,483 bids were received in the latest bidding exercise.