Car COE premiums resist slow market to remain above S$130,000
Cautious bidding and weak sales, but aggressive bids and orders on hand keep premiums buoyant
Singapore's Certificate of Entitlement (COE) premiums remained above S$130,000 despite a quiet market and weak sales during the first round of bidding in October, according to industry observers. The dip in sales was attributed to anticipation of a major car show, The Car Expo, scheduled for late October, but the premiums did not fall significantly as dealers still needed to acquire certificates to fulfill orders.
Category A, which covers mainstream cars, saw a 1.4% decrease to S$130,001, while Category B, for larger and more powerful cars, dipped 2.2% to S$130,100. Category E, the open category, maintained the same premium of S$137,000 as the previous round. Dealers observed slow sales, attributing it to buyers focusing on PSLE and school examinations or looking forward to the car show.
Some dealers carried over orders from the previous round, attempting to secure COEs at a lower price within a fixed number of bidding rounds. Market leaders continued to bid aggressively to secure certificates, keeping premiums high.
Written by urgent.news from The Business Times - Singapore's reporting — not their text. Machine-written — may contain errors; check the original before relying on it.
Also reported by 1 other outlet
- Car COE premiums resist slow market to remain above S$130,000 businesstimes.com.sg
