COE prices end mostly higher in latest bidding exercise

COE prices end mostly higher in latest bidding exercise

    POSTED: 04 Sep 2013 4:25 PM
 
Certificate of Entitlement (COE) prices ended mostly higher in the latest bidding exercise on Wednesday. The COE price for commercial vehicles had the biggest increase of S$2,998, closing at S$73,999.

SINGAPORE: Certificate of Entitlement (COE) prices ended mostly higher in the latest bidding exercise on Wednesday.

The COE price for commercial vehicles had the biggest increase of S$2,998, closing at S$73,999.

Car dealers attributed this to the clearing of old stock before a new emission standard kicks in from January next year.

The premium for small cars rose S$1,081 to end at S$77,304.

This is the eleventh consecutive increase since April and also at its highest since the announcement of car loan curbs in February.

COE price for big cars went up by S$493 to S$77,100.

In the Open category, where the COE can be used for any vehicle type but end up mainly for cars, the premium moved up S$777 to S$80,000.

The premium for motorcycles slipped S$62 to S$1,660.

Raymond Tang, honorary secretary of Singapore Vehicle Traders Association, said: "There are a lot of luxury cars moving into Category A because their capacity is 1600 cc and below. From the beginning of the year till now, almost 70 to 80 per cent of the cars registered in Category A are luxury cars. This will definitely add pressure to Category A. The main reason for this is still the same - supply is not enough for the demand."

- CNA/xq

- wong chee tat :)