COE prices down across the board in last tender of the year
Certificate of entitlement (COE) prices fell across the board at the end of the last round of bidding for the year as the motor vehicle market continued to show signs of weakness.
Premiums for larger cars above 1,600cc or 130bhp took the biggest tumble, closing at $36,000 yesterday.
This was down by $1,900 from $37,900 at the previous tender.
Prices for smaller cars up to 1,600cc and 130bhp dipped slightly after rising in the previous three bidding rounds, ending at $32,889 from $33,009 two weeks ago.
In the goods vehicles and buses category, COE prices continued to slide after hitting their lowest in more than eight years, falling by $504 and closing at $23,200.
Motorcycle COEs also fell from $3,789 to $3,658.
For Open Category COEs, which applies to any vehicle type except motorcycles but is typically used for bigger cars, premiums fell to $37,989, down from $38,889.
There was a quota of 3,443 COEs available during yesterday's tender, with the Land Transport Authority receiving a total of 4,294 bids - the lowest in the whole year.
- KOK YUFENG
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