Car COE prices tumble; Cat A prices end at $58,700

PHOTO: ST FILE

SINGAPORE - Certificates of entitlement (COE) ended lower at the latest tender on Wednesday, with the exception of the motorcycle premium.

COE for cars up to 1,600cc and 130bhp closed at $58,700, down from $61,000 previously. COE for cars above 1,600cc or 130bhp finished at $65,501, down from $71,509.

Open COE, which can be used for any vehicle type but ends up mainly for bigger cars, fell from $74,501 to end at $69,001. The latest premiums are now at their lowest in at least five months.

Commercial vehicle COE dipped slightly to $50,001, from $50,502.

Motorbike premium however, ended higher at $6,508 - up from $6,401.

The general drop in COE prices, especially for cars, has been widely expected.

Traders said the fear of price rises on the back of a revised carbon tax that came into effect on July 1 led to a surge in "forward buying".

Now that the new tax is already in place, there is no more rush to beat the July 1 deadline.

christan@sph.com.sg

Latest COE results:

Category Current COE premium ($) Previous COE premium ($)
A - Car (1600cc & below)  58,700 61,000
B - Car (above 1600cc)   65,501 71,509 
C - Goods vehicle & bus  50,001 50,502 
D - Motorcycle  6,508 6,401
E - Open  69,001 74,501

Source: Land Transport Authority