COE premiums have skyrocketed in the latest round of bidding, with a staggering jump of S$14,612 for cars over 1,600cc.
This brings the total premium for that category to S$62, 502.
Prices for the Open Category was up S$15,010 to S$64,900.
For smaller cars 1,600cc and below, the price rose S$8,604 to S$47,604.
These latest prices are the highest since 2000.
Goods vehicles and buses saw COE premiums increase S$799 to S$32,001, while motorcycle premiums rose S$200 to S$1,701.
The surge in COE prices may be attributed to the current high demand for vehicles before the upcoming COE quota cut, which will commence from February 2011.
