COE prices continue on upward surge
The certificate of entitlement (COE) prices continue to increase significantly for all vehicles except motorcycles - with each of the four categories seeing an increase of over $4,000.
At the latest tender yesterday, the COE for cars up to 1,600cc and 130bhp was $33,199, up $4,040 from $29,159 two weeks ago.
COE for cars above 1,600cc or 130bhp closed at $48,000, up $4,898 from $43,102.
Open COE, which can be used for any vehicle type except motorcycles, finished at $52,410, up $4,204 from $48,209.
Commercial vehicles and buses COE closed at $32,001, up $4,412 from $27,589.
All four categories are at a six-month high, with premiums for the open category and for cars above 1,600cc or 130bhp at a 12-month high.
This surge follows the unexpected rise in COEs for bigger cars in the previous tender earlier this month.
The rise was attributed to new demand from private-hire players, such as Indonesia's Gojek.
The exception to this upward trend is the motorcycle premium which closed at $3,452, down from $3,501.
A total of 6,239 bids were received, with a quota of 4,395 COEs available.
The category with the most bids was for cars up to 1,600cc and 130bhp.- CHEOW SUE-ANN
Get The New Paper on your phone with the free TNP app. Download from the Apple App Store or Google Play Store now