COE prices end mixed ahead of Chinese New Year

[SINGAPORE] Certificate of entitlement (COE) prices ended mixed in the latest tender on Wednesday (Jan 22) on the back of a more muted response to the recently concluded Singapore Motorshow.

COE prices for cars up to 1,600cc and 130bhp finished at S$35,010, down slightly from S$35,320 two weeks ago. COE prices for cars above 1,600cc or 130bhp closed at S$37,705, up slightly from S$37,109.

Open COEs, which can be used for any vehicle type except motorcycles but which end up being used mostly for bigger cars, ended at S$37,500, down from S$38,000.

Commercial vehicle COEs finished at S$25,001, up from S$24,402. The motorcycle premium was the only one which rose significantly, ending at S$4,610, up from S$3,989.

Motor traders said the annual Singapore Motorshow drew fewer visitors than last year's. Aggressive sales promotions in the last two months of 2019, including by brands such as BMW, Audi and Mercedes-Benz, had also resulted in a satiated market.

Lastly, with Chinese New Year this weekend, it is now too late to secure COEs to deliver new cars.

THE STRAITS TIMES

Analyse historical COE data with the Business Times interactive tool