COE prices for bigger cars lowest in eight years
SINGAPORE - Certificate of entitlement (COE) prices finished lower for cars and motorcycles in the latest tender on Wednesday (June 6), less than a month from a new emission ruling that could further lower premiums.
COE premiums for cars up to 1,600 and 130bhp ended at a nine-month low of $36,426, down from $38,001 previously. COE prices for cars above 1,600cc or 130bhp closed at an eight-year low of $36,000, down from $37,989.
Prices for the Open COE, which can be used for any vehicle type except motorcycles, ended at$37,000 - the lowest since March 2010 - down from $38,700.
Commercial vehicle COE premiums remained almost unchanged at $29,902, from $29,901 previously. This premium is also at its lowest in a year.
Motorcycle COE premiums stood at $1 right up to the last five minutes of bidding. It then shot up to end at a six-month low of $7,001, down from $7,115.
Dealers expect premiums to plummet in the coming months when fine particulate matter is included in an emission scheme from July 1. They said a number of parallel imports will no longer be viable, and competition for COEs will ease.