20 Oct '11, 1am

With COE prices hitting 14-year highs, our car expert has a suggestion: Try cycling

SINGAPORE - Certificate of Entitlement (COE) premiums surged across the board in yesterday's latest round of bidding, days after the Land Transport Authority (LTA) announced a cut in the vehicle population growth rate. COE for cars above 1,600cc chalked up the biggest rise, as it went up 19.3 per cent to end at S$75,889. COEs for smaller cars up to 1,600cc and taxis surged by 11.6 per cent to end at S$56,112. Both premiums are now at their highest in 14 years. Open category COEs, which can be used for any vehicles but are mainly used for cars, closed at S$73,600 - an increase of 13.1 per cent. Motor traders were not surprised by yesterday's results and cited last week's announcement, which drove panic buying among potential car owners. The LTA said last Friday that Singapore's annual vehicle population growth rate would be slashed to 0.5 per cent from the current 1.5 per c...

Full article: http://www.todayonline.com/Hotnews/EDC111020-0000174/COE-...

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Categories A and B COE prices hit new high for 2011

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