Wednesday, July 04, 2012

COE premiums close mostly higher

SINGAPORE: Certificate of Entitlement (COE) premiums for vehicles closed mostly higher at the close of the latest round of bidding on Wednesday.

COE premiums for small cars closed at S$59,421, up from S$59,004 in the previous bidding exercise on May 23.

COE for big cars dropped to S$82,289, compared with S$85,400 previously.



In the Open Category, which is mostly used for big cars, prices ended at S$86,999, compared with S$84,389.

Premiums for goods vehicles and buses closed at S$55,556, going up by S$1,054 from the previous bidding.

For motorcycles, the COE will cost S$1,760, compared with S$1,712 previously.

Honorary secretary for the Singapore Vehicle Traders Association, Raymond Tang said prices mostly went up because of the expected tightening of COE quotas next month.

"These two rounds will be quite a tough round because this is the last two round before the COE will be reduced even further.

"So they think this is the last two rounds they have chances to go in and bid. And the number of COE is already not enough to supply the demand in the market, so that is why it causes the majority of the categories to go up or stabilise around that range."

View the original article here

Source From Channel News Asia

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