COE prices finish mixed as buyers return to weak market
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SINGAPORE - Certificate of entitlement (COE) prices ended mixed in the latest tender on Wednesday (July 3) as low prices lured buyers back to what is still a weak car market.
The COE premiums for cars up to 1,600cc and 130bhp closed higher at $28,589, up from $26,999. Those for cars above 1,600cc or 130bhp finished lower at $34,000, down from $35,906.
The prices for open COE, which can be used for any vehicle type except motorcycles but which ends up mostly for bigger cars, closed lower at $36,901, down from $39,400.
Commercial vehicle COE prices closed lower at $25,089, down from $25,501, while premiums for motorcycles finished higher at $3,081, up from $3,000.
Industry watchers said while crowds have returned to showrooms, market sentiment was still weak. The number of motorists who extended the lifespan of their 10-year-old cars continued to rise, with 7,765 doing so in April - 34 per cent more than the average monthly figure in the first quarter, which saw a record 17,428 revalidations.
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