COE premiums end mostly higher, with more orders collected in 3-week break
SINGAPORE – Certificate of entitlement (COE) premiums ended mostly higher in the latest tender on Wednesday (Sept 8) as a three-week break from the previous exercise led to more orders collected.
The COE price for cars up to 1,600cc and 130bhp closed at $47,000, up from $46,689 three weeks ago.
The COE price for cars above 1,600cc or 130bhp finished at $62,600, up from $61,001.
The premium for Open COE, which can be used for any vehicle type except motorcycles but which ends up mostly for bigger cars, ended at $64,700, down slightly from $64,901.
The commercial vehicle COE was priced at $40,001 was almost unchanged from $40,010.
The motorcycle premium reached $9,689, up from the previous record of $9,500 on Aug 18.
Industry observers said a smaller quota, the reopening of the economy last month after the latest Covid-19 measures were eased, and the longer three-week gap between tenders contributed to more aggressive bids.
Usually, tenders are held every two weeks or twice a month. But because some months are longer, three-week gaps occur occasionally. More often than not, they lead to higher premiums.
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