COE prices mixed

COE prices mixed
Posted: 19 January 2011 1643 hrs

SINGAPORE: Certificates of Entitlement (COE) premiums were mixed in the latest bidding exercise which ended on Wednesday.

The largest fall in COE price was that of big cars (above 1600cc), by S$10,090 to S$58,910.

Hybrid Motors sales manager Geraldine Lim said she was not surprised by the decrease as there were fewer bidders.

"This time around, some of the dealers, they would not be able to be in time for the Category B," Ms Lim said.

"Reason is, Chinese New Year is round the corner, and if the customers are not able to get their cars within this time frame, there is no need to go into the bidding, so that is one of the reasons why the COE has dropped."

However, Ms Lim said she expects COE premiums to rise steadily in future biddings.

Premium for the Goods Vehicles and Bus category also decreased, by S$5,111 to S$30,000.

Also recording a drop in COE prices was the Open category, which fell by S$8,780 to S$67,009.

The two categories which saw an increase in COE prices were the small cars (1600cc and below) and motorcycles.

Premium for small cars rose from S$38,889 to S$40,123, an increase of S$1,234.

Meanwhile, premium for motorcycles rose by S$187 to S$1,690.

The COE bidding results come before the Land Transport Authority's reduced COE quota kicks in next month.

The LTA announced on January 10 there would be 22,368 COEs available during the six months between February and July, which works out to three per cent or 695 certificates fewer than the previous six months.

The new supply works out to a monthly quota of 3,728.

-CNA/wk

- wong chee tat :)