Small car COE prices drop steeply in first bidding exercise of the year

Cat A premium slipped to $45,002.

Certificate of Entitlement (COE) premiums for small cars booked a $9,000 drop in the first bidding exercise of the year.

The premium for Category A cars, or those smaller than 1600cc, dropped to $45,002 in today's bidding exercise. A total of 2,013 bids were received for this category, against a quota of 1,659.

Meanwhile, the premium for Category B cars, or those above 1600cc, was fairly flat at $54,920. Premiums in the open category fell to $55,089 from $57,501.

COE prices for Category C, or goods vehicles and buses, dropped to $42,036. Premiums for motorcycles rose marginally to $6,889.

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