Potential car buyers at the Audi showroom at Alexandra Road.
Certificates of Entitlement (COE) finished mixed in the latest tender Wednesday (Nov 22), although premiums remained high across the board.
COE for cars up to 1600cc and 130bhp ended at $46,791, down from $47,112 two weeks ago. COE for cars above 1600cc or 130bhp closed at $57,390, down from $57,414. Open COE, which can be used for any vehicle type except motorcycles, finished at $57,501, up from $57,000 previously.
Commercial vehicle COE closed at $57,701, down from $58,036. Motorcycle premium shot up from $5502 to hit $5992.
Industry players have been fanning demand with a “buy now, not later” messaging. They are telling consumers that prices will rise when the new Vehicle Emissions Scheme kicks in from January.
Most cars will either lose their current tax rebates or even see tax surcharges with the new scheme. But motor traders are divided on whether that will lead to higher car prices because some cars which are currently in the neutral band (qualifying for neither rebate nor surcharge) will remain in the neutral band come January.
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Related story: Is it time to trade in the COE scheme for a newer model?
