COE for big cars rise while other premiums fall
Add BT as a preferred source[SINGAPORE] Certificates of entitlement (COE) premiums eased in the latest tender on Wednesday (Oct 6), with the exception of bigger cars which continued to rise.
COE for cars above 1,600cc or 130bhp ended at S$70,200, up from S$68,310 two weeks ago. Its proxy, the Open category, closed at S$72,756, up from S$70,002 previously.
Premiums for smaller cars up to 1,600cc and 130bhp finished at S$47,001, down from S$48,000.
The commercial vehicle COE closed at S$38,890, down from S$39,000, while the motorcycle premium ended at S$9,052, down slightly from S$9,089.
Industry watchers attribute the results to strong demand from wealthy buyers unaffected by the generally weak market.
A foreseeable shrinkage in the supply of big-car COEs in the next quota period starting November is also fuelling aggressive bidding among dealers.
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