SINGAPORE — Certificate of Entitlement (COE) premiums for vehicles dipped across the board after latest bidding exercise, which ended today.

This comes after premiums for the bigger car and open categories crossed the S$90,000-mark in the previous bidding exercise.

COE premiums for small cars (1,600cc and below) dropped to close 9.54 per cent lower at S$76,889, compared with S$85,000 in the previous bidding exercise.

Premiums for big cars (1,601cc and above) decreased by 5.98 per cent from S$93,500 to S$87,910.

In the Open category, where COEs can be used for any vehicle type but end up mainly for cars, the premium dropped slightly by 1.70 per cent to S$92,289, from S$93,889.

The COE premium for commercial vehicles decreased the most by 10.89 per cent to S$68,002 from S$76,310, while the premium for two-wheelers dropped by 8.01 per cent to S$1,804.

Last month, the Land Transport Authority announced that it will implement engine power caps on top of the current cap on engine capacity for smaller cars, starting February.