COE prices finish mixed as buyers return to weak market

Industry watchers said while crowds have returned to showrooms, market sentiment was still weak.
Industry watchers said while crowds have returned to showrooms, market sentiment was still weak.ST PHOTO: ONG WEE JIN

SINGAPORE - Certificate of entitlement (COE) prices ended mixed in the latest tender on Wednesday (July 3) as low prices lured buyers back to what is still a weak car market.

The COE premiums for cars up to 1,600cc and 130bhp closed higher at $28,589, up from $26,999. Those for cars above 1,600cc or 130bhp finished lower at $34,000, down from $35,906.

The prices for open COE, which can be used for any vehicle type except motorcycles but which ends up mostly for bigger cars, closed lower at $36,901, down from $39,400.

Commercial vehicle COE prices closed lower at $25,089, down from $25,501, while premiums for motorcycles finished higher at $3,081, up from $3,000.

Industry watchers said while crowds have returned to showrooms, market sentiment was still weak. The number of motorists who extended the lifespan of their 10-year-old cars continued to rise, with 7,765 doing so in April - 34 per cent more than the average monthly figure in the first quarter, which saw a record 17,428 revalidations.

Latest COE results:

Category Current COE premium ($) Previous COE premium ($)
A - Car (1600cc & below) 28,589 26,999
B - Car (above 1600cc)  34,000 35,906
C - Goods vehicle & bus 25,089 25,501
D - Motorcycle 3,081 3,000
E - Open 36,901 39,400