Certificate of entitlement (COE) prices yesterday saw their biggest spike in more than 10 years, sending shock waves through the motor industry.
Ahead of tighter COE supply from next month, yesterday's tender saw what an insider described as "panic bidding", which drove COE prices for small cars to a four-year high of $49,640. The premium for larger cars shot up to $61,190 - the highest since September 2015, while COE prices in the Open category rose to $62,100, the highest since July 2015.
SEE SINGAPORE
