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|