COEs soar ahead of supply contraction

[SINGAPORE] Certificates of entitlement (COE) continued to surge, ending at the latest tender Wednesday (April 21) sharply higher than prices two weeks ago.

COE for cars up to 1,600cc and 130bhp closed at S$49,640, up from S$45,600. COE for cars above 1,600cc or 130bhp finished at S$61,190, up from S$52,309.

Open COE, which can be used for any vehicle type except motorcycles but which ends up mostly for bigger cars, ended at S$62,100, up from S$52,200.

Motor dealers attribute the all-round increase for car premiums to a smaller quota in the May-July bidding period. Those with orders in hand are going all out to secure COEs before the supply shrinkage, they said.

Commercial vehicle COE was not spared. It ended at S$44,001, up from S$36,134. Motorcycle premium was the only exception - it closed unchanged at S$8,000, already one of the highest in history.

THE STRAITS TIMES

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