COE prices for 1,600cc cars and commercial vehicles set new records
Certificate of entitlement (COE) prices ended mostly higher at the latest tender on Wednesday, Dec 5, with the premium for 1,600cc cars and commercial vehicles setting new records.
COE for cars up to 1,600cc finished at $78,523, up from $77,291. COE for cars above 1,600cc ended at $90,200, down from $93,004. The Open COE, which can be used for any vehicle type but ends up mainly for bigger cars, rose from $93,990 to hit $97,000 - the highest since it breached $100,000 in 1994.
Commercial vehicle COE set a new high at $63,035, up from $60,235. Motorcycle COE finished at $1,612, down from $1,689.
Motor traders said the rush to fulfill sales targets as the year-end approaches, as well as introduction of new models, helped push premiums higher.