COEs tumble in post-Chinese New Year slumber

COE prices fell across the board in the round of bidding that ended on Feb 21, 2018.
COE prices fell across the board in the round of bidding that ended on Feb 21, 2018.PHOTO: ST FILE

SINGAPORE - Certificates of entitlement (COEs) finished lower on Wednesday (Feb 21) at the first tender in the Year of the Dog on the back of a shorter work week.

COE for cars up to 1,600cc and 130bhp ended at a five-month low of $36,810, down from $40,000 two weeks ago. COE for cars above 1,600cc or 130bhp closed at $39,000 - the lowest since February 2016, and down from $42,322 previously.

Open COE, which can be used for any vehicle except motorcycles, finished at an eight-year low of $38,801, down from $39,903.

Commercial vehicle COE ended at $36,859, down from $38,303. Motorcycle premium fell from $8,451 two weeks ago to land at $7,667.

Motor traders are expected to adjust prices downwards to reflect the lower premiums.