COEs end mostly higher, with certificate for bigger cars up by more than S$5,000

[SINGAPORE] Certificates of entitlement (COE) ended mostly higher at the latest tender on Wednesday ahead of a supply cut from next month.

COE for cars up to 1,600cc and 130bhp closed at S$45,600, up from S$44,589 three weeks ago, while those for cars above 1,600cc or 130bhp breached the S$50,000-mark to end at S$52,309, up sharply from S$47,001.

Open COE, which can be used for any vehicle type except motorcycles but which end up mostly for bigger cars, finished at S$52,200 - up from S$47,806.

Commercial vehicle COE bucked the trend by closing at S$36,134, down from S$39,589 previously. Motorcycle premium finished at S$8,000, up from S$7,791.

Motor traders said an increased wealth factor arising from bullish equity and property markets had contributed to demand for cars. New emission penalties starting in July for bigger, more pollutive cars, are prompting well-heeled consumers to rush to buy sooner than later.

THE STRAITS TIMES

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