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Commercial vehicle COE at new high, breaches $70,000-mark

Certificates of entitlement for commercial vehicles breached the $70,000-mark to set yet another record at the latest tender on Wednesday, Aug 21, 2013. -- FILE PHOTO: LIM YAOHUI FOR THE STRAITS TIMES
Certificates of entitlement for commercial vehicles breached the $70,000-mark to set yet another record at the latest tender on Wednesday, Aug 21, 2013. -- FILE PHOTO: LIM YAOHUI FOR THE STRAITS TIMES

Certificates of entitlement (COE) for commercial vehicles breached the $70,000-mark to set yet another record at the latest tender on Wednesday.

COE for trucks, vans and buses settled at $71,001, up from the previous high of $68,251. The premium is now closest to car COE values than it has ever been.

Car COEs ended mostly higher too. COE for cars up to 1,600cc closed at $76,223, up from $75,556. The premium for cars above 1,600cc finished at $76,607, down from $77,600.

Open COE, which can be used for any vehicle type but ends up mainly for cars, rose from $77,989 to end at $79,223.

Motorcycle COE ended at $1,722, down from $1,792.

Motor traders attributed the strong surge in commercial vehicle COE - which has been setting new highs in recent tenders - to the industry clearing its stock of Euro 4 models before the new Euro 5 standards come into force next year.

Here are the latest Certificate Of Entitlement results from Wednesday's bidding exercise:

Category Current COE premium ($) Previous COE premium ($)
A - Car (1600cc & below) 76,223 75,556
B - Car (above 1600cc) 76,607 77,600
C - Goods vehicle & bus 71,001 68,251
D - Motorcycle 1,722 1,792
E - Open 79,223 77,989

Source: Land Transport Authority

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