COE prices end mixed in last round of bidding for 2018
Certificate of entitlement (COE) prices rose for small cars, the Open category and motorcycles in the last round of bidding for the year, which ended yesterday.
The price for cars up to 1,600cc and 130bhp closed at $25,501, up from the $23,568 of the previous bidding round.
In the Open COE category, which applies to any vehicle type except motorcycles but is typically used for bigger cars, the price rose to $31,809 from $30,851 in the previous round.
Premiums for motorcycles rose to $3,789 from $3,399 in the previous round.
The price for cars above 1,600cc and 130bhp remained unchanged at $31,001.
Premiums for goods vehicles and buses dipped slightly to $27,001 from $27,009 in the previous round.
Honda agent Kah Motor's general manager Nicholas Wong attributed the small-car price hike to recently released figures for deregistration of cars in October and last month.
Deregistration means the vehicles are scrapped and taken off the roads permanently.
"Deregistration numbers have gone down, which means that from February onwards, the quota will be reduced. So dealers will make a move now," he told The Straits Times.