Car COEs rebound while others continue to slide

[SINGAPORE] The two car certificates of entitlement (COE) rebounded from last fortnight's substantial falls, but remained relatively low at the latest tender Wednesday (Feb 19).

COE for cars up to 1,600cc and 130bhp finished at $32,999, up from $30,010. COE for cars above 1,600cc or 130bhp closed at $32,889, up from $30,890.

All other COE categories ended lower. Open COE, which can be used for any vehicle type except motorcycles but ends up mostly for bigger cars, closed at $33,301, down from $34,900.

Commercial vehicle COE finished at $25,001, down from $25,013. Motorcycle premium closed at $4,309, down from $4,401.

Industry watchers reckon the latest results reflected a positive consumer response to price reductions following last fortnight's plunge in premiums.

But the market's underlying weakness, made worse by the coronavirus outbreak, is still apparent.

THE STRAITS TIMES