COEs end mostly higher, with premium for bigger cars up more than $5,000

Commercial vehicle COE bucked the trend by closing at $36,134, down from $39,589 previously.
Commercial vehicle COE bucked the trend by closing at $36,134, down from $39,589 previously.PHOTO: ST FILE

SINGAPORE - The prices of certificates of entitlement (COE) ended mostly higher in the latest tender on Wednesday (April 7), ahead of a supply cut from next month.

The COE premium for cars up to 1,600cc and 130bhp closed at $45,600, up from $44,589 three weeks ago, while that for cars above 1,600cc or 130bhp breached the $50,000 mark to end at $52,309, up sharply from $47,001.

The cost of Open COE, which can be used for any vehicle type except motorcycles but which end up mostly for bigger cars, finished at $52,200 - up from $47,806.

Commercial vehicle COE bucked the trend, with the premium closing at $36,134, down from $39,589 previously. Motorcycle premium finished at $8,000, up from $7,791.

Motor traders said an increased wealth factor arising from bullish equity and property markets had contributed to demand for cars. New emission penalties starting in July for bigger, more pollutive cars are prompting well-heeled consumers to rush to buy sooner than later.

Latest COE results:

Category Current COE premium ($) Previous COE premium ($)
A - Car (1,600cc & below) 45,600 44,589
B - Car (above 1,600cc)  52,309 47,001
C - Goods vehicle & bus 36,134 39,589
D - Motorcycle 8,000 7,791
E - Open 52,200 47,806