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|