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COE prices end mostly higher

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[SINGAPORE] Certificates of entitlement (COE) ended mostly higher in the latest tender on Wednesday (April 18), slowing down a downtrend which started more than a year ago.

COE for cars up to 1,600cc and 130bhp closed at $38,510, up from $37,000 two weeks ago. COE for cars above 1,600cc or 130bhp finished at $37,330, down from $37,605.

Open COE, which can be used for any vehicle type except motorcycles, ended at $38,389, up from $38,039.

With the latest results, car COEs are still hovering at their lowest in over a year.

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Commercial vehicle COE finished at $34,202, up from $34,001.

Motorcycle premium closed at $7,115, hardly changed from the $7,114 previously. Traders said where the two-wheeler COE will head depends on the response to the government's recent offer to pay owners $3,500 for each old machine taken off the road.

Industry watchers expect car COEs to remain subdued for the rest of the year, even if the following three-month quotas are expected to shrink a little.

They said another emission requirement which will kick in in July will render many models unviable here. This in turn will lead to lower demand for COEs.

THE STRAITS TIMES

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