COEs end mostly lower as Uber sells stock of unused cars

[SINGAPORE] All but one certificates of entitlement (COE) ended lower at the latest tender on Wednesday (May 23) on the back of news about Uber selling off hundreds of unused cars.

COE for cars up to 1,600cc and 130bhp closed at $38,001, down from $38,941 two weeks ago. COE for cars above 1,600cc or 130bhp finished at $37,989, down from $38,501.

Open COE, which can be used for any vehicle type except motorcycles, ended at $38,700, marginally up from $38,600.

Commercial vehicle COE closed at $29,901, down from $33,190. Motorcycle premium ended at $7,115, down from $7,204.

Industry watchers expect premiums to trend downwards as a new emission ruling coming into effect in July may render several parallel imports less commercially viable.

THE STRAITS TIMES