Chitchat Cost of Sinkie Small Cars Hit 7-Year Low! Buy! Buy! Majulah PAP!

[JohnTan]

SINGAPORE: Certificate of Entitlement (COE) prices for cars closed lower in the latest bidding exercise on Wednesday (Sep 6), with premiums for small cars sinking to levels not seen since November 2010.

COEs for Category A cars, or those 1,600cc and below with horsepower not exceeding 130bhp, closed at S$36,001, down from S$42,900 in the last exercise.

Premiums for larger and more powerful cars in Category B fell to S$49,000 from S$51,000.

Open category COEs, which can be used for any vehicle type but end up being used mainly for large cars, fell to S$48,005 from S$50,000.

COEs for commercial vehicles, which include goods vehicles and buses, rose to S$43,002 from S$42,004 in the previous bidding exercise.

COEs for motorcycles closed at S$5,402, up from the three-and-a-half year low of S$3,512 in the last exercise.

Read more at http://www.channelnewsasia.com/news...own-small-car-premiums-hit-7-year-low-9189934

 

[Hangover]

Lion City Leasing and Grab stuck with many cars, according to car dealers.
The situation got worse when Comfort Delgo (also stuck with unhired vehicles) announced tie-up with Uber, according to press reports.

The latest closing price was artificially supported to avoid breaching the COE Rebate level of $33K and 34K offered by the Japanese car distributors. New COE rebate level had been set at appx $27-28K level this weekend, reflecting further downside projection for the next COE bid.

Where the current price is standing, you can expect it to be below-water in the next bid.

 

[johnny333]

Signs that the Spore economy is very bad?