Car COE premiums close at highest levels this year

[SINGAPORE] Certificates of entitlement (COE) prices ended mostly higher at the latest tender on Wednesday (Aug 19), with the car premiums reaching their highest this year.

COE price for cars up to 1,600 and 130bhp finished at S$35,710, up from S$33,000 two weeks ago. COE price for cars above 1,600 or 130bhp closed at S$38,802, up from S$37,102. These two premiums are now at their highest levels this year.

The premium for Open COE, which can be used for any vehicle type except motorcycles but which ends up mostly for bigger cars, finished at S$38,110, up from S$36,502.

Commercial vehicle COE price closed at S$25,006, up from S$24,100.

Motorcycle premium was the only exception. It ended at S$7,432, down from S$7,701.

Motor traders point to the smaller quota, as well as pent-up demand from the suspension of car sales over the "circuit breaker" for the buoyant prices. They expect premiums to soften in the coming tenders once the backlog of orders eases.

THE STRAITS TIMES