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Sun Wukong
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Home > Breaking News > Singapore > Story
Jan 20, 2010
COEs soar due to price war
<!-- by line --> By Christopher Tan
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COE for cars up to 1,600cc closed at $20,501, about $2,000 higher than its previous rate. -- ST PHOTO: ALPHONSUS CHERN
<!-- story content : start --> CERTIFICATES of entitlement for cars and commercial vehicles ended sharply higher to end above $20,000 across the board at the latest tender on Wednesday. COE for cars up to 1,600cc closed at $20,501, about $2,000 higher than its previous rate. The premium for cars above 1,600cc hit $22,400, some $3,200 more. Open COE, which can be used for any vehicle type but ends up mainly for cars, finished at $21,899, about $2,000 higher. All these rates are the highest since 2004. Commercial vehicle COE ended at an eight-year high of $20,090, more than $1,000 higher than before. Motorcycle premium was the only exception. It remained undersubscribed at $1 up till the very last minute of bidding. It finally finished at $852, $37 lower than its previous price. Motor traders said fierce price cutting among major dealerships in the last two weeks had whipped up demand. An expected reduction in COE supply from April had also fuelled bidding, as motor firms with orders in hand attempt to fulfill them before the quota cut.
Home > Breaking News > Singapore > Story
Jan 20, 2010
COEs soar due to price war
<!-- by line --> By Christopher Tan
<!-- end by line -->
<!-- end left side bar -->
COE for cars up to 1,600cc closed at $20,501, about $2,000 higher than its previous rate. -- ST PHOTO: ALPHONSUS CHERN
<!-- story content : start --> CERTIFICATES of entitlement for cars and commercial vehicles ended sharply higher to end above $20,000 across the board at the latest tender on Wednesday. COE for cars up to 1,600cc closed at $20,501, about $2,000 higher than its previous rate. The premium for cars above 1,600cc hit $22,400, some $3,200 more. Open COE, which can be used for any vehicle type but ends up mainly for cars, finished at $21,899, about $2,000 higher. All these rates are the highest since 2004. Commercial vehicle COE ended at an eight-year high of $20,090, more than $1,000 higher than before. Motorcycle premium was the only exception. It remained undersubscribed at $1 up till the very last minute of bidding. It finally finished at $852, $37 lower than its previous price. Motor traders said fierce price cutting among major dealerships in the last two weeks had whipped up demand. An expected reduction in COE supply from April had also fuelled bidding, as motor firms with orders in hand attempt to fulfill them before the quota cut.
