- POSTED: 21 May 2014 16:08
- UPDATED: 21 May 2014 23:24
Certificate of Entitlement (COE) prices closed generally higher in today’s bidding exercise.
SINGAPORE: The premiums for small cars (Category A) went up from S$60,002 to S$65,689, after dipping to its lower point in 21 months earlier this month.
Industry players say the results of the previous round of bidding was the cause for the jump in Category A premiums. It led to an oversubscription of COEs, which overflowed into the latest bidding.
"Prices for Category A were more attractive. Compared to two months ago, there's an almost $20,000 difference. And some of the brand-new Japanese cars have fallen below $100,000 mark, which as not happened for the past two years. Hence, mass market cars have been very saleable in the last two weeks, compared to Category B cars," said Owner of Mayfair Motoring Mike Wee.
COE for big cars (above 1,600cc or 97kW) fell from S$70,002, closing at S$68,103.
The open category saw an increase in premiums, rising from S$65,501 to S$67,290.
Premiums for commercial vehicles rose from S$36,301 to S$40,889.
Meanwhile, COE prices for motorcycles increased from S$4,001 to S$4,003.