FacebookInstagramTwitterContact

 

Kim Kardashian And Justin Hartley Had A Hilarious Twitter Exchange About This Is Us           >>           His Majesty Emphasises The Importance Of Youth Leading The Country's Development           >>           Someone Used Coco Pops To Mock Council For Not Filling Potholes           >>           His Majesty Emphasises The Importance Of Youth Leading The Country's Development           >>           The Country Needs The Commitment And United Efforts           >>           The Country Needs The Commitment And United Efforts           >>           Man dies following crocodile attack in Jambi           >>           6 months’ jail for man who punched acquaintance unconscious after staring incident            >>           Indians to enjoy full benefits of MIB           >>           Mass Fardhu Maghrib And Isyak Prayers, Reading Of Surah Yassin And Doa Kesyukuran, In Conjunction With The 34th National Day Celebration           >>          

 

SHARE THIS ARTICLE




REACH US


GENERAL INQUIRY

[email protected]

 

ADVERTISING

[email protected]

 

PRESS RELEASE

[email protected]

 

HOTLINE

+673 222-0178 [Office Hour]

+673 223-6740 [Fax]

 



Upcoming Events


Brunei Gastronomy Week
February 23rd, 2018 | 08:00 AM


Negara Brunei Darussalam 34th National Day
February 23rd, 2018 | 10:00 AM





Prayer Times


The prayer times for Brunei-Muara and Temburong districts. For Tutong add 1 minute and for Belait add 3 minutes.


Imsak

: 05:06AM

Subuh

: 05:16AM

Syuruk

: 06:33AM

Doha

: 06:56AM

Zohor

: 12:35PM

Asar

: 03:52PM

Maghrib

: 06:34PM

Isyak

: 07:43PM

 



The Business Directory


 

 



Singapore


  Home > Singapore


Commercial Vehicle COE Premiums Slide 27 Per Cent


TODAY file photo

 


 December 7th, 2017  |  11:35 AM  |   1043 views

SINGAPORE

 

Certificate of Entitlement (COE) premiums for commercial vehicles plunged at the close of the latest bidding exercise on Wednesday (Dec 6), a sign that dealers have managed to "clear off stock" for models that will be outlawed when new emission standards set in next year.

 

The premiums for Category C (goods vehicles and buses) fell to S$42,000, down 27.2 per cent from the previous exercise (S$57,701).

 

Premiums for commercial vehicles had been on a rebound from a nosedive in the middle of this year, and had remained above S$48,000 since October.

 

Prices tumbled to their lowest in almost six years during the last bidding exercise in April, just before a bumper supply of COEs for this category of vehicles kicked in in May.

 

The average monthly quota for Category C had leaped six-and-a-half-fold to 6,506 from May to July, up from 997 from February to April. The quota hike came about because of the large number of de-registrations in the preceding quarter, which was in turn due to the high number of COEs renewed in 2007 as a result of a shortage in the supply of new Euro IV diesel goods vehicles, the Land Transport Authority had said.

 

Motor dealers TODAY spoke to said the latest slide in premiums for commercial vehicles could be due to dealers having already "cleared off their stock" of diesel vehicles that are not compliant to more stringent emission standards that will be in place next year.

 

From January, dealers may sell only diesel vehicles that meet Euro VI standards. This requirement had set in for petrol vehicles in September.

 

Mr Neo Tiam Ting, president of Automobile Importer & Exporter Association (Singapore), said he expects COE premiums to climb in the next cycle, in light of a relatively smaller quota, but "not by too much".

 

"Demand may drop when stricter emission standards set in next year," he said.

 

Director of Yong Lee Seng Motor Raymond Tang said dealers are likely to have fulfilled orders while the vehicle stock for Euro VI may not have arrived.

 

Mr Reuben Ang, managing director of catering company Elsie's Kitchen, said the drop provides an "incentive" for businesses to renew their aging fleet.

 

"However, businesses in general would plan their fleet requirements based on strategic business needs rather that COE prices which are difficult to predict," said Mr Ang.

 

Mr Lai Chang Wen, chief executive of local delivery service Ninja Van, added: "Lower prices translate to more affordable delivery costs, which are beneficial to both consumers and businesses."

 

On Wednesday, COE premiums also dipped for all other categories, except motorcycles, which went up by 9.3 per cent to S$6,552.

 

Prices for small cars in Category A (up to 1,600cc) recorded a dip of 9.5 per cent, from S$46,791 to S$42,339. Premiums for big cars (above 1,600cc) fell 6.4 per cent from S$57,390 to S$53,711 in Category B.

 

Premiums for the Open category, which can be used for all vehicles except motorcycles, dropped 5.5 per cent from S$57,501 to S$54,334.

 

 

 

NUMBERS AT A GLANCE:

 

Cat A (Cars up to 1600CC & 97KW): S$42,339 (down from S$46,791)

 

Cat B (Cars above 1600CC OR 97KW): S$53,711 (down from S$57,390)

 

Cat C (Goods vehicles and buses): S$42,000 (down from S$57,701)

 

Cat D (Motorcycles): S$6,552 (up from S$5,992)

 

Cat E (Open category): S$54,334 (down from S$57,501)

 


 

Source:
courtesy of TODAY

by KELLY NG

 

If you have any stories or news that you would like to share with the global online community, please feel free to share it with us by contacting us directly at [email protected]

 

Related News


Existing Govt Still Right One – Musa

 2018-02-24 09:17:24

Rohingya Villages Destroyed 'To Erase Evidence'

 2018-02-24 09:26:13

Anbang Seizure Whets Buyers' Appetites for Buildings Across U.S.

 2018-02-24 10:04:42