COEs end mixed in latest bidding exercise as bigger supply kicks in

COE prices finished mixed in the round of bidding that ended on May 11, 2017. ST PHOTO: FELINE LIM

SINGAPORE - Certificates of entitlement (COE) ended mixed in the latest tender on Thursday (May 11) as a bigger supply of certificates mitigates the effects of higher demand.

COE for cars up to 1,600cc and 130bhp finished at $51,106, down slightly from $51,600 in the previous tender on April 26. COE for cars above 1,600cc or 130bhp closed at $55,414, up from $54,406.

Similarly, Open COE, which can be used for any vehicle type but ends up mostly for bigger cars, ended at $55,000, up from $54,616.

Commercial vehicle COE, which had plunged 42.3 per cent from $45,906 to a six-year low of $26,501 ahead of a COE supply surge in the May-July quota period, dipped to $26,029.

Motorcycle premium ended lower at $6,301, down from $6,712.

Motor dealers reported strong sales at the just concluded Cars@Expo, a retail bazaar organised by The Straits Times Classified.

A rush by dealers to clear stock before new emission regulations kick in later this year also put an upward pressure on premiums.

But a 15 per cent increase in the May-July quota has softened the impact of stronger demand.

Latest COE results:

Category Current COE premium ($) Previous COE premium ($)
A - Car (1600cc & below) 51,106 51,600
B - Car (above 1600cc) 55,414 54,406
C - Goods vehicle & bus 26,029 26,501
D - Motorcycle 6,301 6,712
E - Open 55,000 54,616

Source: Land Transport Authority

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