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COEs tumble in post-Chinese New Year slumber

car showroom.jpg

[SINGAPORE] Certificates of entitlement (COEs) finished lower on Wednesday (Feb 21) at the first tender in the Year of the Dog on the back of a shorter work week.

COE for cars up to 1,600cc and 130bhp ended at a five-month low of $36,810, down from $40,000 two weeks ago. COE for cars above 1,600cc or 130bhp closed at $39,000 - the lowest since February 2016, and down from $42,322 previously.

Open COE, which can be used for any vehicle except motorcycles, finished at an eight-year low of $38,801, down from $39,903.

Commercial vehicle COE ended at $36,859, down from $38,303. Motorcycle premium fell from $8,451 two weeks ago to land at $7,667.

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Motor traders are expected to adjust prices downwards to reflect the lower premiums.

THE STRAITS TIMES

Analyse historical COE data with the Business Times interactive tool

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