Singapore

Car COE prices up after longer-than-usual break

Certificate of entitlement (COE) premiums for cars finished higher at the close of the latest tender exercise yesterday - a change that industry observers attributed to the longer-than-usual break between bidding exercises.

For cars up to 1,600cc and 130bhp - known as Category A - COE premiums rose by 6.3 per cent from last month's $44,002, to $46,778.

COE prices in Category B - cars above 1,600cc or 130bhp - moved up 7.4 per cent from $50,001 to $53,711.

In the open category, which is often used for the purchase of bigger cars, COE premiums climbed by 5.3 per cent, from $50,101 to $52,751.

Mr Michael Lim, president of Singapore Vehicle Traders Association, said he was not surprised by the results. The gap between COE tenders is typically two weeks, but there was a three-week gap between yesterday and the previous exercise. - THE STRAITS TIMES

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