COEs finish mostly lower in first round of bidding in October 2016
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Traffic along Central Expressway, CTE, near Jalan Bahagia exit.
ST PHOTO: JAMIE KOH
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SINGAPORE - Certificates of entitlement (COE) ended mostly lower in the latest tender on Wednesday (Oct 5), a reflection of the weaker economic sentiment.
The exception was COE for cars up to 1,600cc and 130bhp, which finished at $51,507, up from $50,000 two weeks ago.
COE for cars above 1,600cc or 130bhp fell from $55,501 to close at a five-month low of $53,001. Open COE, which can be used for any vehicle type but ends up mostly for bigger cars, finished at $54,200, down from $55,201.
Commercial vehicle COE slid from $49,890 to land at $48,702. Motorcycle premium ended at $6,353, down from $6,501.
Mr Ron Lim, general manager of Nissan agent Tan Chong Motors, said: "The surprise was Category A (cars up to 1,600cc). Overall, the market wasn't strong. We really don't know the reason for the increase."
Mr Lim said reductions in the other premiums - especially that for bigger cars - reflected the weaker economy.
Mr Lim said reductions in the other premiums - especially that for bigger cars - reflected the weaker economy.
As for the drop in commercial vehicle COE, he said it was likely a correction as the premium was nearing the psychological ceiling of $50,000.
Latest COE results:
Source: Land Transport Authority
