COEs finish mixed in the second round of bidding in October 2016

COE prices finished mixed on Oct 19, 2016.
COE prices finished mixed on Oct 19, 2016.PHOTO: ST FILE

SINGAPORE – Certificate of entitlement (COE) prices ended mixed at the latest tender on Wednesday (Oct 19), ahead of a smaller quota starting next month. 

COE for cars up to 1,600cc and 130bhp closed at $50,991, down from $51,507 two weeks ago. COE for cars above 1,600cc or 130bhp finished at $56,410, up from $53,001 previously. 

Open COE, which can be used for any vehicle type but ends up mostly for bigger cars, ended at $56,340, up from $54,200. 

Commercial vehicle COE slipped from $48,702 to close at a five-month low of $45,589. Motorcycle premium was $1 higher at $6,354. 

Observers reckon the weaker economic outlook is having a dampening effect on buyers of mass market cars, while a 6.2 per cent contraction in the November-January COE quota announced last week spurred on buyers of bigger models.

Latest COE results:

Category Current COE premium ($) Previous COE premium ($)
A - Car (1600cc & below) 50,991 51,507
B - Car (above 1600cc)  56,410 53,001
C - Goods vehicle & bus 45,589 48,702
D - Motorcycle 6,354 6,353
E - Open 56,340 54,200

Source: Land Transport Authority