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COE prices mostly fall except for marginal rise in open category

[SINGAPORE] Certificate of entitlement (COE) prices mostly ended lower at the latest tender on Wednesday - the second after a three-month suspension.

When bidding ended at 4pm, the COE price for cars up to 1,600cc and 130bhp closed at S$32,699, 2.45 per cent lower than its previous close on July 8.

The COE price for cars above 1,600cc or 130bhp finished 2.47 per cent lower at S$35,001.

The commercial vehicle COE price dipped 2.51 per cent to end at S$23,888.

Meanwhile, the COE for motorcycles dropped 15.48 per cent to S$6,510.

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The only exception to the fall in prices was the open COE category, which can be used for any vehicle type except motorcycles but which ends up mostly for bigger cars. It closed 0.03 per cent higher at S$35,001.

Traders had said that the rise in COE prices across the board in the previous round of bidding was due to pent-up demand that was partially cooled by a slight increase in COE supply.

Bidding had been on hold from April to June when non-essential businesses were closed to stem transmission of the coronavirus.

THE STRAITS TIMES

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