COE prices fall across the board
Certificate of Entitlement (COE) prices fell across the board in the latest bidding exercise yesterday.
In the second tender for this month, Cat B, for cars above 1,600cc, fell the most, by $1,399, from $40,001 to $38,602. There were 1,415 bids received for a quota of 1,045 Cat B COEs in the latest exercise.
COE prices for Cat C, for goods vehicles and buses, fell from $27,800 earlier to $26,501 in the latest exercise, with 446 bids received for a quota of 283.
Cat A premiums, for cars up to 1,600cc, fell $808 to $31,917. There were 1,725 bids received for a quota of 1,062. The premium was $32,725 in the previous exercise, which had closed on Aug 7.
Cat D premiums, for motorcycles, fell by $99, from $4,400 to $4,301. There were 1,010 bids received for a quota of 742 in this round.
Cat E, the open category, fell $510 to $40,002, with 593 bids for a quota of 363. The premium for Cat E was previously $40,512.
Sales manager Aaron Kek from Leco Auto said the prices most likely fell because of the weaker economy, and the higher prices the previous round may have turned some buyers off. - ADELINE TAN