Will COE prices break $110,500 record set in 1994? Should car buyers take the plunge now?

Motor traders are expecting prices to break the 28-year-old record as soon as August. ST PHOTO: GAVIN FOO
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SINGAPORE - Car buyers may soon have to deal with certificate of entitlement (COE) prices breaking the $110,500 record set in 1994, with premiums in two categories crossing the six-digit mark in the two latest tender exercises in June.

Motor traders are expecting prices to break the 28-year-old record as early as August, based on their projected reduction in the supply of COEs from August to October.

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