Small-car COEs slide to five-month low

With the exception of motorcycle premium, certificates of entitlement (COE) fell across the board at the latest tender on Wednesday, Feb 4, 2015, on the back of a larger supply of certificates. -- PHOTO: ST FILE
With the exception of motorcycle premium, certificates of entitlement (COE) fell across the board at the latest tender on Wednesday, Feb 4, 2015, on the back of a larger supply of certificates. -- PHOTO: ST FILE

SINGAPORE - With the exception of motorcycle premium, certificates of entitlement (COE) fell across the board at the latest tender on Wednesday on the back of a larger supply of certificates.

COE for cars up to 1,600cc and 130bhp fell to a five-month low of $62,002, from $65,001 previously. This category receives the biggest increase in COEs in the February-April quota period.

COE for cars above 1,600cc or 130bhp fell to a three-month low of $70,890, down from $76,889 previously. Open COE, which can be used for any vehicle type but ends up mainly for bigger cars, also fell to a three-month low of $71,921, from $76,790.

Commercial vehicle COE eased from $55,012 to $52,101.

But motorbike premium bucked the trend, rising from $4,889 two weeks ago to reach a new record high of $5,504.

Motor traders expect car premiums to slide gradually over the course of the year, to be followed by sharper corrections next year.

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