COE prices end mixed after falling in previous two tenders

This article is more than 12 months old

Sep 19, 2019 06:00 am

Certificate of entitlement (COE) prices ended mixed in the latest bidding exercise yesterday with premiums for larger cars and the open category rising amid an otherwise weak market.

This comes after COE prices fell across the board in the previous two tenders. Prices for open category COEs, which can be used for any vehicle type except motorcycles, jumped by more than $2,000 from the previous $37,912, ending at $40,000.

Premiums for Category B cars above 1,600cc or 130bhp rose to $37,000, up from the $36,001 seen two weeks ago. COEs for goods vehicles and buses also crept up from the previous $25,502 to close at $25,556.

Premiums for smaller Category A cars up to 1,600cc and 130bhp slid by just $24 as prices ended at $31,759, down from $31,783 previously.

Motorcycle premiums also fell, from $4,089 to $3,601.

The Straits Times reported that motor traders had noticed private-hire firms submitting tranches of bids in the closing minutes of the tender, propping up demand.