COE prices for vehicles close mixed

Certificate of Entitlement (COE) prices for vehicles closed mixed on Wednesday in the first bidding exercise for May.

The COE for smaller cars continued to rise, surpassing that for bigger cars.

The COE premium for small cars rose S$502 to end at S$62,999, while that for the Open Category also increased by S$301 to S$62,301.

However, the premium for big cars above 1,600cc dropped to S$61,700, down S$300.

Meanwhile, the COE price for commercial vehicles fell S$1,451 to end at S$57,051.

For motorcycles, the premium dipped S$91 to S$1,700.

Since the car loan restrictions came into effect in February, COE prices have been generally on a downward trend.

Car dealers Channel NewsAsia spoke with said premiums are expected to dip further in the next bidding exercise.

Cobin Ng, manager of Leco Automobile, said: "(They) should drop further because it's back to the shorter week, two-week bidding. So hopefully (they) could drop another 5-10 per cent."

SOURCE

No big surprises here with the small changes in COE premiums. Shall wait till the 60 days is over before anticipating anything big.