Traffic along the Central Expressway (CTE).
Certificate of entitlement (COE) prices ended lower in the latest tender on Wednesday (July 4), with the premium for mainstream cars plunging to its lowest in nearly a decade.
COE premiums for cars up to 1600cc and 130bhp finished at $25,000, down from $34,110 – the lowest since March 2010.
COE prices for cars above 1600cc or 130bhp closed at $31,000, down from $33,900.
Premiums for Open COE, which can be used for any vehicle type except motorcycles, ended at $31,001, down from $34,400.
Commercial vehicle COE prices ended at $31,092, down from $32,001. Motorcycle premiums eased to $6514, down from $6889.
Motor industry watchers said a July 1 emission ruling, which measures the amount of particulate matter a car produces, had rendered a number of models – especially those brought in by parallel importers – unviable. With fewer bidders, prices plummeted.
Certificate of entitlement (COE) prices ended lower in the latest tender on Wednesday (July 4), with the premium for mainstream cars plunging to its lowest in nearly a decade.
COE premiums for cars up to 1600cc and 130bhp finished at $25,000, down from $34,110 – the lowest since March 2010.
COE prices for cars above 1600cc or 130bhp closed at $31,000, down from $33,900.
Premiums for Open COE, which can be used for any vehicle type except motorcycles, ended at $31,001, down from $34,400.
Commercial vehicle COE prices ended at $31,092, down from $32,001. Motorcycle premiums eased to $6514, down from $6889.
Motor industry watchers said a July 1 emission ruling, which measures the amount of particulate matter a car produces, had rendered a number of models – especially those brought in by parallel importers – unviable. With fewer bidders, prices plummeted.
What is VES? Find out more on this Onemotoring page
What is the purpose of VES? Find out more on this LTA page
