COEs end mixed in first tender of 2021

[SINGAPORE] Certificates of entitlement (COE) ended mixed in the first tender of the year on Wednesday, with prices hardly changed from the previous tender two weeks ago.

COE for cars up to 1,600cc and 130bhp closed at S$40,609, a tad higher than the previous S$40,556. COE for cars above 1,600cc or 130bhp finished at S$49,001, down slightly from S$49,300.

Open COE, which can be used for any vehicle type except motorcycles but which ends up mostly for bigger cars, closed at S$49,489, a dip from S$49,500.

Commercial vehicle COE ended at S$35,900, a notch higher than the previous S$35,201. Motorcycle premium finished at S$7,501, down from S$7,689.

Motor traders pointed out that while the uncertain economic outlook is likely to dampen demand for cars, the ongoing travel restrictions might divert people's attention towards consumer items, including cars.

Meanwhile, this year's supply of COEs is unlikely to change significantly from last year's.

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