Certificate of entitlement (COE) prices ended lower across the board at the last tender of 2023.
At the close of bidding at 4pm on Dec 20, the premium for Category B COES, which are for bigger, more powerful models, ended at $110,001 - chalking up the biggest drop of 15.4 per cent.
The premium for Open category COES closed 11.2 per cent lower at $118,388. This category of COEs can be used for any vehicle type except motorcycles, but ends up almost exclusively for bigger, more powerful cars.
The COE premium for Category A- for smaller, less powerful cars finished at $85,000, or 3.4 per cent lower than in the previous tender two weeks ago.
The commercial vehicle COE premium fell by 2.2 per cent to close at $69,423 - the first time it has fallen below $70,000 in more than a year. Meanwhile, the motorcycle COE premium slid by 8.7 per cent to finish at $9,002.
While COE prices have fallen appreciably since their highs in October when prices rose to as high as $158,004 they are still at among their highest levels since the quota system was introduced in 1990.
This story is from the December 21, 2023 edition of The Straits Times.
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This story is from the December 21, 2023 edition of The Straits Times.
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