Channel NewsAsia
Updated: 04/23/2014 16:24 | By Channel NewsAsia

COE premiums end mostly down in latest bidding exercise

COE premiums end mostly down in latest bidding exercise


COE premiums end mostly down in latest bidding exercise

SINGAPORE: Premiums for Certificates of Entitlement (COE) ended mostly down in the second COE bidding exercise for April.

The premium for small cars went down by S$6,065 to end at S$71,335.

COE for big cars (above 1,600cc or 97kW) also fell, going down by S$9,494 to close at S$75,010.

The open category saw a significant decrease, falling by S$10,290 to S$73,810.

The biggest decrease though, was in the premiums for commercial vehicles -- which fell S$16,613 to S$32,890.

The COE price for motorcycles was the only one to buck the trend, edging up S$13 to S$4,502.

One car dealer told Channel NewsAsia he was surprised the drop in COE premiums came ahead of the quota expansion.

He expects COE prices for small and large cars to continue to fall - but not by much, despite the larger quota.

Leon Ho, procurement officer at Supercars Singapore, said: "From what I see, and from many experts I have spoken to, they feel that it should hover around S$70,000, not too much.

"Because once there's a huge drop like this time round, people might see that it's a good chance to finally change their cars They might be afraid that such a chance might not come again -- to see this S$70,000 COE. If it goes back to S$80,000, S$90,000, then they might hold back again." - CNA/ac

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