COE prices up for most categories except motorcycles
The certificate of entitlement (COE) prices for cars up to 1,600cc and 130bhp were at a three-month high of $26,301, up 2.4 per cent from two weeks ago, in the latest tender yesterday.
COE for cars above 1,600cc or 130bhp increased 2.6 per cent for an eight-month high of $35,403. Open COE posted the biggest increase of 3.8 per cent yesterday, closing at an eight-month high of $36,667.
Commercial vehicle COE also moved north by 2 per cent to finish at $26,914. But motorcycle premium ended 0.5 per cent lower, at $3,689.
Motor dealers said prices are going up because of a smaller supply of COEs.
Parallel importers are coming back to the market after being affected by stricter emission rules last year. And the entry of Indonesia's Gojek in ride-sharing is also seen as a factor contributing to higher demand for COEs.
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