Strong demand sends COE prices mostly higher

Certificates of entitlement (COE) ended mostly higher at the latest tender on Thursday. -- PHOTO: ST FILE
Certificates of entitlement (COE) ended mostly higher at the latest tender on Thursday. -- PHOTO: ST FILE

SINGAPORE - Certificates of entitlement (COE) ended mostly higher at the latest tender on Thursday despite a higher supply of certificates available from next month.

COE for cars up to 1,600cc and 130bhp finished at $63,990, up from $63,880 two weeks ago. COE for cars above 1,600cc or 130bhp closed at $72,002, down from $72,180.

Open COE, which can be used for any vehicle type but ends up mainly for bigger cars, rose from $72,003 to end at $72,201.

Commercial vehicle COE hit a 12-month high of $61,000 on the back of fewer certificates available for the category from next month. Motorcycle premium eased off to finish at $4,412, down from $4,800.

Dealers said stronger-than-usual demand had fuelled bidding. In fact, Borneo Motors, which distributes the bestselling Toyota brand, raised the price of its popular Corolla Altis by $2,000 before bidding ended today - an unusual move, as dealers adjust prices after a tender, not before.