COE for bigger cars lowest in eight years
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[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.
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