Monday, Sep 15, 2014Monday, Sep 15, 2014
News
 

COE results: Small-car COE ends sharply higher than big-car COE

Published on Mar 13, 2013 4:18 PM
 
The twin car measures announced in February have affected COE prices in the first tender on Wednesday, March 13, 2013, but not exactly in the way observers expected. --ST FILE PHOTO: ALPHONSUS CHERN

The twin car measures announced in February have affected COE prices in the first tender on Wednesday, but not exactly in the way observers expected.

COE for cars up to 1,600cc ended at $74,689, down slightly from $78,301 before the loans curb and tiered taxation system were announced.

COE for cars above 1,600cc plunged from $92,667 to $58,090, as did its proxy, Open COE, which closed sharply lower at $65,001 - down from $91,910.

This is the first time that buyers of a economy car like a Toyota Corolla will pay substantially more for a Certificate of Entitlement (COE) than the buyer of a luxury car like a Porsche 911 since the COE system was introduced 23 years ago.

 
If you are not a subscriber, you can get instant, unlimited access here

Videos