COEs end mostly lower at latest tender
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[SINGAPORE] Certificates of entitlement (COE) ended mostly lower in the latest tender Wednesday (March 3) as major motor dealers dialed back on promotions.
COE for cars up to 1,600cc and 130bhp finished at S$41,996, up slightly from S$41,001 previously.
The COE premium for cars above 1,600cc or 130bhp closed at S$45,001, down from S$46,002.
Open COE, which can be used for any vehicle type except motorcycles but which ends up mostly for bigger cars, ended at S$47,001, down slightly from S$47,506.
Commercial vehicle COE posted the biggest drop of more than S$3,000 as it sank from S$40,890 to S$37,513. This is because buyers had mostly secured their diesel-powered models before a new emission scheme which doles out penalties for dirtier light commercial vehicles takes effect in April.
Motorcycle premium finished at S$7,752, up from S$7,500.
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While much interest surrounds newcomer Tesla, observers reckon the American electric carmaker - which started collecting orders last month - is unlikely to influence premiums significantly.
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