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Muted COE demand despite motor show

By Faiming_low on 19 Jan 2017

Attached Image Certificate of entitlement (COE) premiums ended mostly lower at the latest tender yesterday, despite expectations of higher demand whipped up by the just-ended Singapore Motorshow.

The COE price for cars up to 1,600cc and 130bhp inched upwards by 1.6 percent to finish at $50,889, while that for cars above 1,600cc or 130bhp ended at $52,807, a dip of 0.6 percent from the previous close.

The premium for the Open category, which can be used for any vehicle type but ends up mostly for bigger cars, was 0.8 percent lower at $52,600.

Industry players said fears of an economic slowdown and more job losses this year may have dampened the buying fervour that usually follows a motor show. Organisers said more than 47,000 people flocked to the Singapore Motorshow 2017, which ended on Sunday at Suntec convention centre.

Mr Ron Lim, general manager of Nissan agent Tan Chong Motor, said the market was "very quiet" before the show. "Orders came in only during the show, and we understand finance companies did not have time to approve all the loans submitted," he said, adding that the delay may have contributed to the relatively subdued results as well.

Traders said premiums were likely to have been even softer if not for a block of 300 bids, which came in during the last 45 minutes of bidding. The 300 bids, they believe, were from private-hire players such as Uber and Grab.

Mr Lim said that dealers may also be restrained because the COE supply in the next quota starting February is expected to be larger.

Not so for commercial vehicles, though. The COE supply for vans, trucks and buses is expected to be smaller. Yesterday, the COE price for that category closed 1.5 percent higher at $47,001.

The following article is written by Christopher Tan, a Senior Transport Correspondent with The Straits Times.

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Faiming_low
Written by Faiming_low
Since young, Fai Ming has always centered his life around cars. In fact his first word was 'car' and not 'mum' or 'dad'. Aren't kids cute?



  • 1
Vinceng Jan 20 2017 10:31 PM

The prices in the last bid are not reflective of actual demand.

 

COE prices were muted as majority of the bank loans for sales at Motorshow were not secured, prior to COE bid, due to the short timeline between Motorshow end date on 15 Jan and COE bidding from 16-18 Jan. 

Watwheels Jan 23 2017 08:26 AM

Certificate of entitlement (COE) premiums ended mostly lower at the latest tender yesterday, despite expectations of higher demand whipped up by the just-ended Singapore Motorshow.

 

FYI it doesn't work this way. You need to go find out more.

  • 1
 
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