Car COEs spike after easing of car loans
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Certificate of Entitlement (COE) prices finished generally higher in the first round of bidding in June on Wednesday (June 8).
PHOTO: ST FILE
SINGAPORE - Certificates of entitlement (COE) ended sharply higher for cars at the latest tender on Wednesday (June 8).
COE for cars up to 1,600cc and 130bhp finished at $53,694, up from $47,020 last month. COE for cars above 1,600cc or 130bhp closed at $56,000, up from $49,156.
Open COE, which can be used for any vehicle type but ends up mostly for bigger cars, closed at $55,100, up from $49,700.
The spike was not unexpected. Since the Monetary Authority of Singapore's eased car loan restrictions two weeks ago, the market has been bracing itself for a flood of new orders. The latest COE results bear this out.
Meanwhile, commercial vehicle COE ended at $46,434, up from $43,002. Motorcycle premium finished $1 lower at $6,302.
Latest COE results:
Source: Land Transport Authority
