COE for bigger cars lowest in eight years

[SINGAPORE] Certificates of entitlement (COE) finished lower for cars and motorcycles in the latest tender on Wednesday, less than a month from a new emission ruling that could further lower premiums.

COE for cars up to 1,600 and 130bhp ended at a nine-month low of S$36,426, down from S$38,001 previously. COE for cars above 1,600cc or 130bhp closed at an eight-year low of S$36,000, down from S$37,989.

Open COE, which can be used for any vehicle type except motorcycles, ended at S$37,000 - its lowest since March 2010 - down from S$38,700.

Commercial vehicle COE remained almost unchanged at S$29,902, from S$29,901 previously. This COE is also at its lowest in a year.

Motorcycle COE stood at S$1 right up to the last five minutes of bidding. It then shot up to end at a six-month low of S$7,001, down from S$7,115.

Dealers expect premiums to plummet in the coming months when fine particulate matter is included in an emission scheme from July 1. They said a number of parallel imports will no longer be viable, and competition for COEs will ease.

THE STRAITS TIMES