COE prices rise across all categories in latest tender

Certificate of entitlement (COE) premiums went up in all categories at the latest bidding exercise on Wednesday.

Premiums for cars above 1,600cc shot up by 11.4 per cent to $75,000.

The price for an open COE, which can be used for any type of vehicle but ends up mainly for big cars, increased by 13.9 per cent to $76,000.

Industry observers said the demand for big cars was partly fuelled by the recent introduction of the latest Mercedes E-class.

COE premiums for small cars up to 1,600cc went up by 3.8 per cent to $67,301.

The premium for commercial vehicles rose by 1.9 per cent to $57,989, while the price of a motorcycle COE crept up slightly by 2.3 per cent to $1,701.

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