COEs hit six-year highs

[Ithunk]

CERTIFICATES of Entitlement (COEs) for cars and commercial vehicles all zoomed past $20,000 at the latest tender on Wednesday.

 

These are the highest premiums for cars in six years, and for commercial vehicles in eight.

 

Industry players said recent sales promotions whipped up a demand for new vehicles and fuelled bidding, as did an anticipated cut in COE supply from April.

 

Car COEs all posted double-digit gains: The premium for cars up to 1,600cc climbed 10.8 per cent to $20,501; and for cars above 1,600cc shot up by 16.7 per cent to $22,400. The Open COE category, which can be used for any vehicle type but ends up mainly for cars, rose by 10.1 per cent to $21,899.

 

Commercial vehicle COEs edged up 5.7 per cent to close at $20,090, the highest level since 2002. Only motorcycle COEs dipped - by 4.1 per cent to end at $852.

 

Motor Traders Association (MTA) president Tan Kheng Hwee said besides ongoing discounts and promotional offers on cars, a rush to deliver vehicles ahead of Chinese New Year next month has also contributed to the spike in COE prices.

 

http://www.straitstimes.com/BreakingNews/S...ory_480094.html

[Tinydog]

Another COE thread!!!

[Alechi]

simi lai eh ... so many COE threads ??