Car, commercial vehicle COE prices slide

COE premiums finished mostly lower in the round of bidding that ended on Dec 6, 2017. PHOTO: ST FILE

SINGAPORE - With the exception of motorcycle premiums, certificate of entitlement (COE) prices ended lower in the latest tender on Wednesday (Dec 6).

COE for cars up to 1,600cc and 130bhp finished at $42,339, down from $46,791 previously. COE for cars above 1,600cc or 130bhp closed at $53,711, down from $57,390. Open COE, which can be used for any vehicle type except motorcycles, ended at $54,334, down from $57,501 two weeks ago.

Commercial vehicle COE took the biggest plunge, ending at $42,000 - down from $57,701. Motorcycle premium bucked the trend to close at $6,552, up from $5,992.

Industry players said buyers had stayed away on account of high prices. News of a zero growth allowance for the vehicle population starting next year had spooked the market, and caused COE rates to soar in November.

But now that the "panic buying" backlog has cleared, premiums are heading south again.

Latest COE results:

Category Current COE premium ($) Previous COE premium ($)
A - Car (1600cc & below) 42,339 46,791
B - Car (above 1600cc) 53,711 57,390
C - Goods vehicle & bus 42,000 57,701
D - Motorcycle 6,552 5,992
E - Open 54,334 57,501

Source: Land Transport Authority

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