COE premiums for small cars dropped 10.19% in mid-October bid

Motorcycle COE premiums were down 3.84% to $3,951.

Certificate of entitlement (COE) premiums for small cars slipped 10.19% to $25,556 from $28,457 during the first bidding exercises in October, the Land Transport Authority (LTA) revealed.

Meanwhile, COE premiums for cars above 1600cc merely inched up by $1 to $31,302. For motorcycles, COE premiums were down 3.84% to $3,951 from $4,109.

COE premiums for goods vehicles and buses hiked by $1,000 to $29,501 whilst open COE premiums rose by $348 to $32,900.

A total of 6,117 bids were received by mid-October, of which 4,634 were successful. Small cars accounted for the most bids totalling 1,811 where only 1,672 were successful.

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