Car COE premiums rebound, while those for other vehicles continue to slide

Industry watchers reckon the latest results reflected a positive consumer response to price reductions following last fortnight's plunge in premiums.
Industry watchers reckon the latest results reflected a positive consumer response to price reductions following last fortnight's plunge in premiums.ST PHOTO: ALPHONSUS CHERN

SINGAPORE - The prices of two car certificates of entitlement (COE) rebounded from last fortnight's substantial falls, but remained relatively low at the latest tender on Wednesday (Feb 19).

The COE premium for cars up to 1,600cc and 130bhp finished at $32,999, up from $30,010. The price of COE for cars above 1,600cc or 130bhp closed at $32,889, up from $30,890.

All other COE categories ended with lower premiums. The price for the open COE, which can be used for any vehicle type except motorcycles but ends up mostly for bigger cars, closed at $33,301, down from $34,900.

The commercial vehicle COE price finished at $25,001, down from $25,013. Motorcycle premium closed at $4,309, down from $4,401.

Industry watchers reckon the latest results reflected a positive consumer response to price reductions following last fortnight's plunge in premiums.

But the market's underlying weakness, made worse by the coronavirus outbreak, is still apparent.

LATEST COE RESULTS:

Category Current COE premium ($) Previous COE premium ($)
A - Car (1,600cc & below) 32,999 30,010
B - Car (above 1,600cc)  32,889 30,890
C - Goods vehicle & bus 25,001 25,013
D - Motorcycle 4,309 4,401
E - Open 33,301 34,900