COE prices for cars up sharply

Certificate of Entitlement (COE) premiums rose across the board at the end of the latest bidding exercise on Wednesday.

The sharpest increase was for Category A, or cars 1,600cc and below and taxis. 

The COE premium rose by 15.5 per cent or $9,235. 

It closed at $68,656 - from $59,421 in the previous bidding exercise. 

This was followed by Category B, or cars 1,601cc and above. 

The premium rose by about 10 per cent, or $8,212, to close at $90,501 - from $82,289. 

In the Open category, the COE premium rose by about 7 per cent to hit $92,700, compared with $86,999 in the previous bidding exercise. 

It's higher by $5,701. 

The COE premium for motorcycles was up by 5.6 per cent, or $99. 

It'll cost $1,859, compared with $1,760. 

The smallest rise was for the goods, vehicles and buses category, or Category C - by 0.5 per cent or $249. 

A COE for this category will cost $55,805.

This latest round of bidding will be the final exercise before the new quota numbers for the next six months (August to January 2013) take effect. 

The Land Transport Authority announced on 12 July that there will be 3,226 COEs available per month in the next six months, which are 12.7 per cent fewer than the number for the last six months.