Grab, Gojek seen pushing COEs up

Car dealers point to the return of parallel importers and private-hire players for the car premiums trekking northwards.
Car dealers point to the return of parallel importers and private-hire players for the car premiums trekking northwards.ST PHOTO: KUA CHEE SIONG

SINGAPORE - Certificate of entitlement (COE) prices ended mostly higher, with premiums for four-wheelers creeping up slightly and prices for two-wheelers dipping.

The COE price for cars up to 1,600cc and 130bhp closed at $26,309, up from $26,301 two weeks ago. The premium for cars above 1,600cc or 130bhp finished at $36,961, up from $35,403.

The price for the Open COE, which can be used for any vehicle type but ends up mostly for bigger cars, closed at $37,620, up from $36,667.

The commercial vehicle COE price ended at $27,010, up from $26,914.

Motorcycle premium bucked the trend by closing at $3,602, down from $3,689.

Car dealers point to the return of parallel importers and private-hire players for the car premiums trekking northwards.

 

Both Gojek and Grab are seen to be expanding their fleets, even as thousands of cars previously with Uber's Lion City Rentals remain unhired.

LATEST COE RESULTS:

Category Current COE premium ($) Previous COE premium ($)
A - Car (1,600cc & below) 26,309 26,301
B - Car (above 1,600cc)  36,961 35,403
C - Goods vehicle & bus 27,010 26,914
D - Motorcycle 3,602 3,689
E - Open 37,620 36,667