Coronavirus: April COE bidding suspended
SINGAPORE - Certificate of Entitlement bidding exercises in April will be suspended with the month-long heightened distancing measures taking effect on Tuesday , the Land Transport Authority announced on Sunday afternoon.
With the closure of motor vehicle dealerships and showrooms during this stay-home period, bidding exercises could result in insufficient bids and subsequently premiums crashing, observers said.Industry players interviewed then said that if COE tenders were to carry on, it would mean car sales would carry on.
Others asked what would happen to COEs which are expiring soon, since the consumption of COEs is often tied to car sales as well as the trade-in of used vehicles. Ms Jasmmine Wong, chief executive of Inchcape Singapore & Greater China, said:"This decision is logical given all car showrooms, as part of non-essential services, will be closed till May 4.
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