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COE prices end mixed in latest tender
CERTIFICATE of entitlement (COE) prices ended mixed in the latest tender on Wednesday (Sept 18) as private-hire firms propped up demand in an otherwise lacklustre market.
COE premiums for cars up to 1,600cc and 130bhp settled at $31,759, marginally lower than the $31,783 seen two weeks ago. COE prices for cars above 1,600cc or 130bhp ended at $37,000, up from $36,001 previously.
The premiums for Open COE, which can be used for any vehicle type except motorcycles but ends up mostly for bigger cars, closed at $40,000, up from $37,912.
Motor traders noticed private-hire firms submitted tranches of bids in the closing minutes of the tender. These players typically buy petrol-electric hybrid cars, which mostly exceed 1,600cc or 130bhp.
Meanwhile, commercial vehicle COE prices crept up slightly from $25,502 to finish at $25,556. Motorcycle premiums fell from $4,089 to $3,601.
THE STRAITS TIMES