COES PRICES, ESPECIALLY FOR SMALL CARS, ROSE SHARPLY AGAIN

Certificate of Entitlement (COE) premiums rose sharply yesterday, with small cars registering the greatest increases.

Dealers explain that the increases were probably caused by 3-year low COE premiums for small cars in last month’s exercise, as well as a surge in demand for small cars because of discounts offered by dealers during the Chinese New Year period.

Premiums for small cars (up to 1600cc and 97kW) closed at $61,410 at the end of the first bidding exercise this month.

For big cars (above 1600cc and 98kW), premiums rose to $68,668 from $66,751.

Open category COEs, which can be used for any vehicle type, rose to $70,500.

Commercial vehicle premiums rose to $56,501.