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COE prices for cars go up

This article is more than 12 months old

Certficate of Entitlement (COE) prices for cars up to 1,600cc and 130bhp inched up 1.3 per cent to $26,659, at the close of this month's second bidding exercise yesterday.

COE prices for cars above 1,600cc or 130bhp ended at $39,401, a 6.6 per cent rise from $36,961 two weeks ago.

Prices for open category COEs - which can be used to buy any vehicle type except motorcycles but end up mostly for bigger cars - closed at $41,000.

This is a 9 per cent increase from the $37,620 registered at the previous bidding exercise.

Meanwhile, COE prices for commercial vehicles increased by $11 to $27,021, but motorcycle premiums fell by 3.7 per cent to $3,469.

Singapore Vehicle Traders Association president Michael Lim told The Straits Times that the number of cars being scrapped in the past two months has fallen.

Data from the Land Transport Authority shows that there were about 4,690 cars above 1,600cc or 130bhp which were deregistered in January and Februarythis year.

In the same period a year ago , more than 5,480 of these cars were taken off the road.

Transport