COE prices end lower except for small cars in latest tender

Dealers expect the prevailing economic uncertainty arising from the US-China trade war to keep the car market subdued.
Dealers expect the prevailing economic uncertainty arising from the US-China trade war to keep the car market subdued.ST PHOTO: LIM YAOHUI

SINGAPORE - Certificate of entitlement (COE) prices ended mostly lower in the latest tender on Thursday (June 6) as a plunge in premiums in the previous exercise sent buyers of smaller cars back to showrooms.

The COE premium for cars up to 1,600cc and 130bhp closed at $30,009, up from last fortnight's $27,000 but still lower than in earlier recent exercises which saw prices going past $36,000. It was the only COE which ended higher.

COE prices for cars above 1,600cc or 130bhp finished at $39,728, down from $42,564.

Premiums for open COE, which can be used for any vehicle type except motorcycles but are used mostly for bigger cars, closed at $42,002, down from $47,000 previously.

Commercial vehicle COE prices finished at $25,502, down from $27,400. Motorcycle premiums settled at $3,090, down from $3,202.

Dealers expect the prevailing economic uncertainty arising from the US-China trade war to keep the car market subdued.

Latest COE results:

Category Current COE premium ($) Previous COE premium ($)
A - Car (1600cc & below) 30,009 27,000
B - Car (above 1600cc)  39,728 42,564
C - Goods vehicle & bus 25,502 27,400
D - Motorcycle 3,090 3,202
E - Open 42,002 47,000