Small cars COEs fall to 9-month low

CERTIFICATEs of entitlement (COE) for smaller cars fell for the third consecutive round since car-cooling measures were implemented in February.

COE premium for cars up to 1,600cc finished at $61,029, down from $64,209 previously. COE for cars above 1,600cc ended at $67,010, down from $73,900.

Open COE, which can be used for any vehicle type but ends up mainly for bigger cars, closed at $66,989, down from $73,301.

COEs for commercial vehicles bucked the trend by rising from $54,111 to end at $56,011. Motorcycle premiums closed at $1,812, down from $1,909.

Industry watchers said the 60-day reprieve on loan curbs for used cars may have diverted buying interest to secondhand vehicles, and thus dampened demand for new cars which require COEs.

COE Prices Over The Years

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* The prefix 1 in the months (eg 1-Jun-2006) indicates the first COE bid for the month, while a 2 prefix (2-Jun-2006) indicates the second bid for the month. ** Chart starts from the April 2002 bidding exercise. That was when the COE Open bidding system - where bidders are allowed to track the prevailing strike price "live" - fully replaced the Closed bidding system

Data Source: Land Transport AuthorityGraphics: Derrick Ho | Last Updated: Apr 10, 2013 16:05hrs

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