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| COE Prices |
Hybrid Motors CEO Eddie Lo said the rise in COE premiums could be due to an increase in car sales brought about by the previous COE bidding, which saw a decrease.
Mr Lo added taxis' demand for COEs could be another reason for the higher premiums.
The premium for small cars rose S$5,745 to S$55,989.
The COE price in the open category increased S$3,321 to S$68,811.
Meanwhile, the premium for big cars rose S$801 to S$68,501, which Mr Lo said was a 14-year high.
He added a reason for the increase in COE premium for this category could be that more new luxury car models had been launched recently.
For goods vehicles and buses, the COE price was S$1,501 higher at S$32,590.
The COE price for motorcycles climbed S$70 to S$2,360.
Mr Lo said COE prices are likely to rise as customers continue to rush to buy cars, pending a further cut of vehicle quota numbers next month.
