COE premiums end mostly higher, with more orders collected in 3-week break

[SINGAPORE] Certificate of entitlement (COE) premiums ended mostly higher in the latest tender on Wednesday (Sept 8) as a three-week break from the previous exercise led to more orders collected.

The COE for cars up to 1,600cc and 130bhp closed at S$47,000, up from S$46,689 three weeks ago.

The COE for cars above 1,600cc or 130bhp finished at S$62,600, up from S$61,001.

The Open COE, which can be used for any vehicle type except motorcycles but which ends up mostly for bigger cars, ended at S$64,700, down slightly from S$64,901.

The commercial vehicle COE at S$40,001 was almost unchanged from S$40,010.

The motorcycle premium reached S$9,689, up from the previous record of S$9,500 on Aug 18.

Industry observers said a smaller quota, the reopening of the economy last month after the latest Covid-19 measures were eased, and the longer three-week gap between tenders contributed to more aggressive bids.

Usually, tenders are held every two weeks or twice a month. But because some months are longer, three-week gaps occur occasionally. More often than not, they lead to higher premiums.

THE STRAITS TIMES

Analyse historical COE data with the Business Times interactive tool