COE prices down for private cars, motorcycles
Certificate of entitlement (COE) premiums ended lower for cars and motorcycles yesterday as buyers stayed away after prices rebounded two weeks ago.
The COE price for cars up to 1,600cc and 130bhp finished 2.7 per cent lower at $41,761. The premium for cars above 1,600cc or 130bhp closed 2.2 per cent lower at $48,109.
The premium for Open COE, which can be used for any vehicle except motorcycles but which ends up mostly for bigger cars, ended 0.02 per cent lower at $49,000.
Motorcycle premiums took the biggest plunge, falling by 8.9 per cent to finish at $5,010. The COE price for commercial vehicles, however, bucked the trend by ending 4.3 per cent higher at $48,902.
Motor traders said fresh bookings at showrooms had slowed after price hikes following a rebound in premiums two weeks ago.
After car COEs plunged to as low as $36,001 in the first tender of September, there was a spike in demand.
This caused premiums to bounce back in the previous tender.- THE STRAITS TIMES