Certificate of entitlement (COE) premiums ended mostly higher at the latest tender yesterday as pent-up demand continued to exert pressure. The COE price for cars up to 1,600cc and 130bhp posted the biggest increase, closing at $35,710, or 8.2 per cent higher than the...
The motorcycle premium was the only exception. It ended 3.5 per cent lower at $7,432.
Motor traders point to the smaller quota, as well as pent-up demand from the suspension of car sales over the circuit breaker period, for the buoyant prices. Singapore Vehicle Traders Association president Eddie Loo said the fact that the next tender is three weeks away had also added pressure to the latest exercise."Bidders are worried that if they miss this round, they would have to wait three weeks for another chance," he said.
COE tenders are held twice a month, and most exercises are two weeks apart. But in some months, three-week gaps do occur. Mr Loo added that the market is still weak, but there is a backlog of orders, and the COE supply is expected to continue shrinking. Yet, he said, the high premiums will not be sustainable, given the economic downturn and job losses. -
Singapore Latest News, Singapore Headlines
Similar News:You can also read news stories similar to this one that we have collected from other news sources.
COE premiums close mostly higher in latest bidding exerciseSINGAPORE: Certificate of Entitlement (COE) premiums closed mostly higher in the latest bidding exercise on Wednesday (Aug 19). For Category A ...
Read more »
COE prices end mostly higherCERTIFICATES of entitlement (COE) prices ended mostly higher at the latest tender on Wednesday, with the car premiums reaching their highest this year. Read more at The Business Times.
Read more »
Two dead after collision between car and motorcycle on TPEA motorcyclist and his female pillion rider were killed in an accident on the Tampines Expressway (TPE) towards the Seletar Expressway yesterday. There was a collision between a car and a motorcycle at about 4.20pm and a police spokesman said a 62-year-old man and the...
Read more »
Four arrested after man forced into car in Little IndiaSINGAPORE: Four men who forcefully pulled a victim into a car off Verdun Road in Little India have been arrested for wrongful confinement, police ...
Read more »