Wednesday, 19 March 2014

COE prices end mostly higher

Certificate of Entitlement (COE) premiums went up across all categories of vehicles, except for commercial vehicles in the latest bidding exercise on Wednesday.

The commercial vehicles category bucked the trend, falling S$2,411 to end at S$53,891.

One dealer attributed this to the increased COE bonus under the Enhanced Early Turnover Scheme (ETS), announced during the recent Budget debate.


The scheme aims to reduce vehicle emissions, especially by old diesel vehicles.

Michael Wong, director of Triangle Auto, said: "We found that there has been quite a lot of interest generated with ETS. It's now quite attractive, and we have got quite a lot of people looking at using the scheme.

"Generally, with the ETS, you don't need to bid for a COE, so you will reduce the quota number itself because the ETS makes use of the prevailing quota pricing."

COE premium for larger, more powerful cars saw the biggest increase, rising S$2,190 to S$82,900.

The COE price for Category A, or cars up to 1,600cc and 97 kW engine power output, rose S$1,603 to end at S$78,602.

Open category COE went up by S$2,001 to S$84,001.

The premium for motorcycles increased by S$288 to close at S$4,289.

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