SINGAPORE - Certificate of entitlement (COE) prices finished higher across the board at the tender on Wednesday (July 8) - the first since March.
The COE premium for cars up to 1,600cc and 130bhp closed at $33,520, up from the previous price of $31,210 before bidding was suspended for three months because of circuit breaker measures. The premium for cars above 1,600cc or 130bhp ended at $35,889, up from $30,012.
The price for Open COE, which can be used for any vehicle type except motorcycles but which ends up almost exclusively for bigger cars, closed at $34,989, up from $32,500.
Market observers noted that the increases were modest, considering that motor dealers had three months to collect bookings.
Commercial vehicle COE price ended at $24,502, up from $22,002. Motorcycle premium finished at $7,702, up from $4,489 in March.
Retiring Transport Minister Khaw Boon Wan said on Facebook that the spike in motorbike premium was despite a 50 per cent increase in its quota.
"We are analysing the bids," he added. "If it was due to pent-up demand for motorbikes, I expect it to peter out."
LATEST COE RESULTS:
|Category||Current COE premium ($)||Previous COE premium ($)|
|A - Car (1,600cc & below)||33,520||31,210|
|B - Car (above 1,600cc)||35,889||30,012|
|C - Goods vehicle & bus||24,502||22,002|
|D - Motorcycle||7,702||4,489|
|E - Open||34,989||32,500|