COE prices for small cars reaches all time high, closes at $73,501
COE for cars up to 1,600cc soared from the previous high of $68,656 to set a new record of $73,501. The spike came despite taxis having been removed from this category.
Certificate of entitlement (COE) ended higher across the board at the latest tender on Wednesday - the first of a crimped quota.
COE for cars above 1,600cc rose from $90,501 to end at $94,502. Open COE, which can be used for any vehicle type but ends up mainly for bigger cars, finished at $95,034, up from $92,700.
Commercial vehicle premium climbed from $55,805 to hit $57,001. And motorcycle COE ended at $2,081, up from $1,859.
Industry watchers expect prices to stay high on the back of a tight supply.