COE prices end mixed in latest bidding exercise
Certificate of Entitlement (COE) prices ended mixed in the latest bidding exercise on Wednesday.
COE premiums for small cars below 1,600cc rose S$1,002 to S$59,003.
But premiums for big cars fell S$2,216 to S$83,000.
Prices for the open category closed S$1,000 lower at S$85,889.
The biggest drop was in the commercial vehicles category, where the premium fell S$2,584 to S$54,522.
Meanwhile, the premium for motorcycles ended S$22 higher at S$1,912.
Last week, the Land Transport Authority (LTA) said it will implement measures for a more gradual cut in vehicle growth rate.
In a statement, the agency said the vehicle growth rate will be reduced from the current 1.5 per cent per annum to 1 per cent per annum from August 2012. This will subsequently be further reduced to 0.5 per cent per annum from February 2013 to January 2015.
This is a revision from LTA's previous announcement in October 2011 that it would reduce the vehicle growth rate from 1.5 per cent per annum to 0.5 per cent per annum from August 2012.
