CERTIFICATES of entitlement (COE) slid across the board on Wednesday, with car premiums closing at one of the year's lowest levels.
COE for cars up to 1,600cc registered the biggest fall, dropping 11.3 per cent to $12,501. COE for cars above 1,600cc was next, falling 9.5 per cent to $12,889.
The Open COE, used mainly for cars, ended 5.1 per cent lower at $14,101.
COE for commercial vehicles dipped by 0.6 per cent to $12,589, while motorcycle COE fell by 5.1 per cent to $1,413.
The above shows the effect of high price of oil ,touching sky high this month. The lag causes
the local biddings for the COE to fall 11 percents .At the rate it is going,the car showroom will
be just that-showroom. Will the Sincitizens be forced to downgrade to two wheels.Time will
tell.Or driving the drivers to the local buses, train, the transportation of last resort? Or one wheel,the monocycle used by clowns to entertainment. Who will have the last laugh? Will the Sincitizen be driving Caricature of a car, the Nano, Mango, in the high tech corner of the world ? Watch the road for the signs of change. High Oil price is leading the drivers to the wall,the SUV will be exported to the Middle East where it replaces the camels. The camels will presumably be tented in the laps of luxuries,in airconditioned and spoiled to no ends.Will be updated.
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