COE prices end mostly lower

Certificate of entitlement (COE) prices ended mostly lower in the latest tender yesterday as major motor dealers dialled back on promotions.

The COE price for cars up to 1,600cc and 130bhp finished 2.4 per cent higher at $41,996, while the COE price for cars above 1,600cc or 130bhp closed 2.2 per cent lower at $45,001.

The premium for the Open COE, which can be used for any vehicle type except motorcycles but which ends up mostly for bigger cars, finished 1.1 per cent lower at $47,001.

The commercial vehicle COE price posted the biggest drop at 8.3 per cent to close at $37,513.

This is because buyers have mostly secured their diesel-powered models before a new emission scheme, which doles out penalties for dirtier light commercial vehicles, takes effect next month.

The motorcycle premium finished 3.4 per cent higher at $7,752 despite being the only category to have a bigger supply of certificates in the current quota period of February-April.

Motor traders say overall bidding was somewhat muted despite the quota supply cut, largely because the German brands - a major collective force in COE bidding - have pared down their aggressive price promotions. - THE STRAITS TIMES