COE prices higher across the board, Latest Singapore News - The New Paper

COE prices higher across the board

This article is more than 12 months old

Certificate of entitlement (COE) premiums continued their upward trend, with prices closing higher across the board as the first round of bidding for April closed yesterday.

The highest increase was seen in the open category, where the COE price jumped 17.5 per cent to $48,209, compared with $41,000 previously.

Yong Lee Seng Motor managing director Raymond Tang said the spike could be due to dealers rushing to bid for vehicles ahead of an expected drop in the supply of COEs during the May to July period, compared with the previous three months.

Meanwhile, both categories of cars saw increases of about 9.4 per cent.

For larger cars, which are above 1,600cc or 130bhp, the COE price increased from $39,401 to $43,102.

For smaller cars, up to 1,600cc and 130bhp, the COE closed at $29, 159, up from $26, 659 two weeks ago.

Motorcycle COEs also inched up slightly, closing at $3,501, just $32 more than $3,469 previously. - ZHAKI ABDULLAH