Main car COE premium falls to eight-year low of $25,000

Certificate of entitlement prices for for cars up to 1,600cc and 130bhp finished at $25,000, the lowest since March 2010.
Certificate of entitlement prices for for cars up to 1,600cc and 130bhp finished at $25,000, the lowest since March 2010.PHOTO: ST FILE

SINGAPORE - Certificate of entitlement (COE) prices ended lower in the latest tender on Wednesday (July 4), with the premium for mainstream cars plunging to its lowest in nearly a decade.

COE premiums for cars up to 1,600cc and 130bhp finished at $25,000, down from $34,110 - the lowest since March 2010.

COE prices for cars above 1,600cc or 130bhp closed at $31,000, down from $33,900.

Premiums for Open COE, which can be used for any vehicle type except motorcycles, ended at $31,001, down from $34,400.

Commercial vehicle COE prices ended at $31,092, down from $32,001. Motorcycle premiums eased to $6,514, down from $6,889.

Motor industry watchers said a July 1 emission ruling, which measures the amount of particulate matter a car produces, had rendered a number of models - especially those brought in by parallel importers - unviable. With fewer bidders, prices plummeted.

Latest COE results:

Category Current COE premium ($) Previous COE premium ($)
A - Car (1600cc & below) 25,000 34,110
B - Car (above 1600cc)  31,000 33,900
C - Goods vehicle & bus 31,092 32,001
D - Motorcycle 6,514 6,889
E - Open 31,001 34,400