SINGAPORE - Certificate of entitlement (COE) prices for cars ended higher at the latest tender on Wednesday (July 18), signalling strong sales after premiums plunged to their lowest in eight years two weeks ago.
COE prices for cars up to 1,600cc and 130bhp closed at $32,699, up from $25,000 previously. COE premiums for cars above 1,600cc or 130bhp ended at $32,551, up from $31,000.
Prices for Open COE, which can be used for any vehicle type except motorcycles, finished at $32,809, up from $31,001.
Despite the rebound, car premiums are still near their lowest levels in years.
Meanwhile, commercial vehicle COE prices eased from $31,092 to end at $30,889. Motorcycle premiums dipped to $6,189, from $6,514.
Motor industry players expect a bigger supply of COEs from next month to keep premiums stable for the rest of the year.
Latest COE results:
|Category||Current COE premium ($)||Previous COE premium ($)|
|A - Car (1600cc & below)||32,699||25,000|
|B - Car (above 1600cc)||32,551||31,000|
|C - Goods vehicle & bus||30,889||31,092|
|D - Motorcycle||6,189||6,514|
|E - Open||32,809||31,001|