Jul 04, 2013

    COE premiums still high despite govt curbs

    CERTIFICATE of entitlement (COE) prices were a mixed bag when the latest tender ended yesterday, although car premiums were still among the highest since measures to cool the market were announced in late February.

    COEs for cars up to 1,600cc ended 4.6 per cent higher at $73,100. For cars above 1,600cc, they finished 5.7 per cent lower at $77,110.

    Open Category COEs - which can be used for any vehicle type, but ends up being used mainly for cars - closed 7.2 per cent lower at $77,000.

    All three premiums were at their second highest since February, when the Government curbed car loans and increased taxes for the vast majority of models here.

    The move managed to bring COE premiums down in the first three months.