COE prices close mixed in latest bidding exercise

Certificates of entitlement (COE) ended mixed in the latest tender yesterday as demand for bigger cars eased with near-record prices in recent months.

COE for cars up to 1,600cc and 130bhp ended 2.4 per cent higher at $55,001. COE for cars above 1,600cc or 130bhp finished 3.9 per cent lower at $79,601.

Open COE, which can be used for any vehicle type but ends up mostly for bigger cars, closed 2.3 per cent lower at $86,001.

Industry watchers said demand for bigger cars has plunged with the stratospheric COE prices of late.

Tesla, for instance, registered only 26 cars in October, versus 314 in September.

Meanwhile, commercial vehicle COE rose by 3.6 per cent to finish at $43,502 as the economy continues to emerge from a pandemic state. Motorcycle premium remained unchanged at $9,381.