In the first open bidding exercise of this month, Certificate of Entitlement (COE) premiums saw an increase in four out of its five categories, leaving buyers of the 'Open' category the only ones that saw a fall of 3.7 percent – from $74,801 to $72,003.
Commercial vehicles premiums saw the highest increase of 15 percent, from $49,889 to $57,389 – its highest record this year.
Motorcycle premiums experienced a 6.6 percent inflation from $4,505 to $4,800.
Small cars (up to 1,600cc) faced a 3 percent jump in premiums from $62,000 to $63,880.
Big cars (above 1,600cc) saw the least increment of 0.3 per cent, settling at $72,180 from $71,990 in the previous bidding exercise.
According to TODAY, director of RTMR Motor, Mr. Ricky Tay predicts that the COE quota for commercial vehicles will fall by 42 per cent from November onwards. He relates the drop in percentage to customers using the Early Turnover Scheme to register for new commercial vehicles.
The Early Turnover Scheme, which was designed to work towards meeting Singapore’s 2020 air quality targets, presents owners of goods vehicles and buses with incentives to encourage them to replace their old diesel vehicles early.
Photo: Land Transport Authority Facebook
Read Also:
Goods vehicles and buses experience highest bump in recent COE bidding exercise
In the first open bidding exercise of this month, Certificate of Entitlement (COE) premiums saw an increase in four out of its five categories, leaving buyers of the 'Open' category the only ones that saw a fall of 3.7 percent – from $74,801 to $72,003.
Commercial vehicles premiums saw the highest increase of 15 percent, from $49,889 to $57,389 – its highest record this year.
Motorcycle premiums experienced a 6.6 percent inflation from $4,505 to $4,800.
Small cars (up to 1,600cc) faced a 3 percent jump in premiums from $62,000 to $63,880.
Big cars (above 1,600cc) saw the least increment of 0.3 per cent, settling at $72,180 from $71,990 in the previous bidding exercise.
According to TODAY, director of RTMR Motor, Mr. Ricky Tay predicts that the COE quota for commercial vehicles will fall by 42 per cent from November onwards. He relates the drop in percentage to customers using the Early Turnover Scheme to register for new commercial vehicles.
The Early Turnover Scheme, which was designed to work towards meeting Singapore’s 2020 air quality targets, presents owners of goods vehicles and buses with incentives to encourage them to replace their old diesel vehicles early.
Photo: Land Transport Authority Facebook
Read Also:
Goods vehicles and buses experience highest bump in recent COE bidding exercise