SINGAPORE - The price of Certificate of Entitlement for cars as well as in the Open category hit record highs on Wednesday, spurred by motor dealers rushing to meet year-end targets and take advantage of current tax rebates for electric cars.
The premium for the Open category COE – which can be used for any vehicle type except motorcycles, but ends up being used mostly for bigger cars – also set an all-time high, at $144,640.The commercial vehicle COE premium nudged up by 1.1 per cent to finish at $83,801, up from $82,889 before. Mr Ng Choon Wee, group commercial director at Komoco Motors, attributed the high COE premiums to dealers who may be chasing after their year-end sales targets to qualify for incentives.
From Jan 1, 2024, the pollutant thresholds for private cars under the Vehicular Emissions Scheme will be tightened, though details of the revised VES have yet to be announced. “A stable price would be better for the economy and better reflect the actual demand for car travel,” he said.
Source: Car News Wire (carnewswire.net)
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