SINGAPORE: Certificate of Entitlement (COE) premiums closed mostly higher in the latest bidding exercise on Wednesday (Mar 22), with Category A and B premiums reaching new record highs.

For Category A cars, or those 1,600cc and below with horsepower not exceeding 130bhp, premiums closed at S$93,503, a record high, up from S$88,000 in the last exercise and eclipsing the previous mark of S$92,100 set in January 2013.

Premiums for larger and more powerful cars in Category B also rose to a record high of S$116,201 from S$115,501. The previous milestone was S$115,388 in November last year.

Open category COEs, which can be used for any vehicle type but end up being used mainly for large cars, rose to S$116,020 from S$116,000 last month.

COEs for commercial vehicles, which include goods vehicles and buses, fell to S$85,389 from S$91,101 in the previous bidding exercise, a record in the previously. 

Motorcycle premiums closed at S$12,001, down from S$12,390 in the last exercise.

A total of 2,426 bids were received, with a quota of 1,648 COEs available.

Last month, a new additional registration fee (ARF) structure and preferential ARF cap took effect, leading to owners of higher-end cars forking out more for their vehicles.

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