COE prices end mostly lower in latest tender

[SINGAPORE] Certificate of entitlement (COE) prices ended mostly lower at the latest tender on Wednesday (Dec 4), as consumer sentiment remained weak.

The COE premium for cars up to 1,600cc and 130bhp was the only one that ended higher at $33,009, up from $32,000 two weeks ago.

COE prices for cars above 1,600cc or 130bhp finished lower at $37,900, down from $39,700.

Premiums for Open COE, which can be used for any vehicle type except motorcycles but which end up almost exclusively for bigger cars, closed lower at $38,889, down from $40,889.

Commercial vehicle COE prices inched downwards from $24,502 to settle at $23,704. Motorcycle premiums also slipped from $3,921 to finish at $3,789.

Industry sources said motor dealers selling bigger cars have largely fulfilled their sales targets for this year, and are now collecting orders for next year. This could be why most COE premiums in the latest exercise remained at $1 until the last five minutes of bidding.

THE STRAITS TIMES

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