COE prices end mostly higher in latest bidding
With the Singapore Motorshow 2019 due to open today, certificate of entitlement (COE) prices mostly went up at the latest tender yesterday.
The premium for cars up to 1,600cc and 130bhp rose to $25,920 from $25,501 three weeks ago while the price for cars above 1,600cc or 130bhp ended at $32,200, up from $31,001.
The price for the Open COE, which can be used for any vehicle type except motorcycles but mostly ends up for cars, rose to $32,909 from $31,809. The COE for commercial vehicles went up by $1 to $27,002.
The only category to buck the trend was the motorcycle premium, which dropped to $3,610 from $3,789.
Motor dealers expect the Singapore Motorshow to push up demand for COEs as buyers eye the new models that will be launched at the Suntec Singapore Convention and Exhibition Centre. The show will run until Sunday.
The general manager of Honda agent Kah Motor, Mr Nicholas Wong, told The Straits Times: "Companies want to set the prices before the show. After the show, it'd be a new ball game."