Mixed COE prices in bigger quota
Premiums for certificates of entitlement (COE) finished mixed yesterday in the first tender of an expanded quota.
The COE premium for cars up to 1,600cc and 130 brake horspower (bhp) ended at $47,889, up from $47,300 two weeks ago.
The premium for cars above 1,600cc or 130bhp closed at $51,010, up from $49,602.
Open COE, which can be used for any vehicle type but ends up mostly for bigger cars, was slightly lower at $49,000 - down from $49,501 previously.
The commercial vehicle COE closed at $42,302, down from $43,002. The premium for motorcycles also ended lower, at $6,302, down from $6,501.
The Straits Times reported motor traders as saying that strong buying interest, whipped up by the annual Cars @ Expo bazaar last month, and competition from private-hire providers such as Uber have fuelled bidding.