COE prices continue to fall except Categories A and D
Certificate of entitlement (COE) prices continued to fall, except for Category A and D premiums that went up.
At the latest tender yesterday, the premium for Category A, or cars up to 1,600cc and 130bhp, was $28,589 - up $1,590 from $26,999 previously. The premium for motorcycles, or Category A, closed at $3,081, up from $3,000.
The premium for Category B, or cars above 1,600cc and 130bhp, fell to $34,000 from $35,906. Open COE, which can be used for any vehicle type except motorcycles but is mostly used for bigger cars, ended at $36,901, down from $39,400. Also, the premium for goods vehicles and buses fell by $412 to $25,089.
Attributing the increase in Category A premiums to economic conditions, Mr Lim Lee Heng, 47, managing director of Apex Trading, told The New Paper: "Consumers continue to purchase cars in Category A as they are cheaper compared with Category B.
"Furthermore, hybrid cars are in Category B and they are not an attractive option as they continue to be expensive."- ELAINE LEE
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