COE prices mixed for October

Certificate of Entitlement (COE) prices finished mixed in the second round of bidding for October.

The premium for the open category - available for any vehicle type except motorcycles - saw the biggest jump of 6.1 per cent from $49,000 to $52,000.

COE prices for commercial vehicles reached its highest value in more than two years, rising from $48,902 to $51,890.

"The increase in premiums for commercial vehicles is driven by anticipation of a significantly smaller supply for the November-to-January quota," said Mr Ron Lim, general manager of Nissan agent Tan Chong Motors.

The price for cars above 1,600cc or 130bhp inched up slightly, closing at $49,996, up from $48,109 two weeks ago.

The COE for cars up to 1,600cc and 130bhp went down slightly, from $41,761 to $41,617.

Mr Lim said there was not much change as buyers are anticipating the next tender in three weeks.

Motorcycle premiums dipped slightly from $5,010 to $4,903, a two-year low. - THE STRAITS TIMES