COE prices end higher

Certificate of Entitlement (COE) premiums rose across the board at the close of bidding at 4pm on Wednesday, with prices for commercial vehicles hitting another new high.

The COE for commercial vehicles crossed the S$50,000 mark for the first time to close at S$52,004.

That's a rise of S$2,203 or 4.42 per cent from the previous high of S$49,801 in the bidding exercise on 8 February.

The COE for small cars closed at S$57,009, up by S$4,200 or 7.95 per cent.

The COE for big cars rose to S$78,189, an increase of S$4,299 or 5.81 per cent.

The premium for motorcycles ended at S$2,012, up S$210 or 11.6 per cent.

The COE for the open category went up to S$78,000, an increase of S$4,199 or 5.68 per cent.

Tan Chong Motor general manager of sales and marketing, Ron Lim said he felt the rise in prices is not sustainable given the economic outlook.

"Whether these prices will be sustainable will be a big question mark," he added.

"If you look across the board, most of the COEs have risen 15 to 18 per cent within two short rounds. I feel that the market needs to take a breather. So we'll probably see some corrections soon."

ORIGINAL SOURCE
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