The New Paper
Spike in COE prices the biggest in more than 10 years
The sharp increase in COE prices at the latest tender yesterday was described as panic bidding and bloodbath by industry players. PHOTO: LIANHE ZAOBAO
Prices soar in almost all categories, surprising many industry experts
CHRISTOPHER TAN, TRANSPORT CORRESPONDENT
An earthquake which is sending shock waves across the trade.
That was how one motor industry player described the sharp increase in certificate of entitlement (COE) prices at the latest tender yesterday.
COE prices for cars up to 1,600cc and 130bhp closed 8.9 per cent higher to hit a four-year high of $49,640. COE for cars above 1,600cc or 130bhp shot up by 17 per cent to finish at $61,190 - its highest since September 2015.