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Old 10th February 2011, 08:02 AM   #1 (permalink)
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COE prices mostly lower

COE prices mostly lower

By Dylan Loh
Posted: 09 February 2011 1644 hrs


SINGAPORE: Certificates of Entitlement (COE) premiums fell in most categories in the first bidding exercise in February, which ended on Wednesday.


Car showroom

The biggest drop in premium was that of open vehicles, which decreased S$8,119 to S$58,890.

The next biggest fall was seen in the big cars category (above 1600cc), falling by about S$5,510 to S$53,400.

The small cars category (1600cc and below) fell S$2,999 to S$37,124.

Meanwhile, the goods vehicles category slipped S$1,411 to S$28,589.

The motorcycles category was the only one which rose.

It increased S$129 to S$1,819.

It's a small reprieve for many who've seen COE premiums remain high over the months.

But car dealers said this reprieve is short-lived and that the dip in prices may not repeat itself, going forward.

They said the next round of bidding should see the return of higher premiums, overall.

Hybrid Motors chief executive officer Eddie Lo said: "Our prediction is around 10 per cent to 20 per cent because a lot of buyers are waiting for the COE drop during the [Lunar] New Year time.

"This is a good time for them to buy [and] once they [have bought] their cars, the COE will increase [subsequently]".

This bidding round is also the first under the new reduced quota allocation for February to July.

Some 1,890 COEs were available for the bidding exercise.

Dealers said many may have already made their bids in the last round to avoid this round's reduced quota.

This may have resulted in less aggressive bidding and therefore, the dip in premiums overall.

Some dealers expect COE prices to peak close to mid-year in anticipation of the announcement of the six-month quota allocation for August onwards.

Source: http://www.channelnewsasia.com/stori...109653/1/.html

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