Carbon concerns drive up car COEs

Certificates of entitlement (COE) for cars rose across the board at the latest tender on Wednesday as buyers flocked to showrooms ahead of a revised carbon emissions scheme and higher prices. -- ST PHOTO: DESMOND WEE
Certificates of entitlement (COE) for cars rose across the board at the latest tender on Wednesday as buyers flocked to showrooms ahead of a revised carbon emissions scheme and higher prices. -- ST PHOTO: DESMOND WEE

SINGAPORE - Certificates of entitlement (COE) for cars rose across the board at the latest tender on Wednesday as buyers flocked to showrooms ahead of a revised carbon emissions scheme and higher prices.

In the revised Carbon Emission-based Vehicle Scheme that kicks in from July, car buyers face the prospect of losing tax rebates and even paying surcharges.

COE for cars up to 1,600cc and 130bhp finished at $61,410, up from $57,199 two weeks ago. COE for cars above 1,600cc or 130bhp ended at $68,688, up from $66,751. Open COE, which can be used for any vehicle type but ends up mainly for bigger cars, closed at $70,500, up from $67,901.

Commercial vehicle COE rose from $53,202 to hit $56,501. Motorcycle premium eased off after a long trek northwards to settle at $5,501.

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