COE premiums end mostly higher at latest tender
SINGAPORE – Certificates of entitlement (COE) ended mostly higher after a longer three-week break between the latest tender Wednesday (June 9) and the previous one on May 19.
COE for cars up to 1,600cc and 130bhp closed at $48,510, up from $41,801.
COE for cars above 1,600cc or 130bhp finished at $60,109, up from $58,089.
Open COE, which can be used for any vehicle type except motorcycles, but which ends up mostly for bigger cars ended at $61,112, down from $62,000.
Commercial vehicle COE finished at $37,002, down from $41,701. Motorcycle premium closed at $8,703, up from $8,701.
COE tenders are usually two weeks apart. But occasionally, there are three-week gaps because of changing number of weeks in a month.
A longer break gives motor dealers more time to collect orders. More orders in hand usually translate to a higher number of bids as well as more competitive bids.
Market observers point out that Open COE had ended lower, which is a reflection of weaker sentiment ahead. This means premiums are more likely to fall in the coming tenders than they are to rise.
Latest COE results:
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