COE prices end mostly lower as Uber sells stock of unused cars

Uber's Lion City Rental cars at Parklane shopping mall's car park in Selegie Road.
Uber's Lion City Rental cars at Parklane shopping mall's car park in Selegie Road.PHOTO: ST FILE

SINGAPORE - The prices of all but one certificate of entitlement (COE) category ended lower at the latest tender on Wednesday (May 23) on the back of news about Uber selling off hundreds of unused cars.

The COE price for cars up to 1,600cc and 130bhp closed at $38,001, down from $38,941 two weeks ago. The COE price for cars above 1,600cc or 130bhp finished at $37,989, down from $38,501.

The price for the Open COE, which can be used for any vehicle type except motorcycles, ended at $38,700, marginally up from $38,600.

The commercial vehicle COE price closed at $29,901, down from $33,190. The motorcycle COE premium ended at $7,115, down from $7,204.

Industry watchers expect premiums to trend downwards as a new emission ruling coming into effect in July may render several parallel imports less commercially viable.

Latest COE results:

Category Current COE premium ($) Previous COE premium ($)
A - Car (1600cc & below) $38,001 38,941
B - Car (above 1600cc)  $37,989 38,501
C - Goods vehicle & bus $29,901 33,190
D - Motorcycle $7,115 7,204
E - Open $38,700 38,600