Small car COE lowest since early 2012

Motor traders expect the latest results to fuel a minor buying frenzy, but with most showrooms closed for an extended period for Chinese New Year, there will be a shorter than usual period to collect bookings. -- PHOTO: ST FILE
Motor traders expect the latest results to fuel a minor buying frenzy, but with most showrooms closed for an extended period for Chinese New Year, there will be a shorter than usual period to collect bookings. -- PHOTO: ST FILE

SINGAPORE - Car buyers are in for a happy Chinese New Year as certificate of entitlement (COE) prices continued to tumble in the latest tender on Tuesday.

COE for cars up to 1,600cc and 130bhp fell from $62,002 a fortnight ago to end at $57,199 - almost a three-year low. COE for cars above 1,600cc or 130bhp dived from $70,890 to finish at a seven-month low of $66,751.

Open COE, which can be used for any vehicle type but ends up mainly for bigger cars, followed suit by sliding from $71,921 to close at $67,901.

Buyers of commercial vehicles and motorcyles did not share the festive joy with premiums for their categories rising.

Commercial vehicle premiums ended slightly higher at $53,202, up from $52,101 two weeks ago. Motorbike premiums set yet another record by climbing from $5,504 to finish at $5,800.

Motor traders expect the latest results to fuel a minor buying frenzy, but with most showrooms closed for an extended period for Chinese New Year, there will be a shorter than usual period to collect bookings.

Hence the next tender in March should result in subdued rises, if any.

christan@sph.com.sg


Here are the latest Certificate Of Entitlement results from Tuesday's bidding exercise:

Category Current COE premium ($) Previous COE premium ($)
A - Car (1600cc & below)  57,199 62,002
B - Car (above 1600cc)  66,751 70,890 
C - Goods vehicle & bus  53,202 52,101 
D - Motorcycle  5,800 5,504
E - Open  67,901 71,921
 

Source: Land Transport Authority

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