Certificates of entitlement (COEs) ended mostly higher in the latest tender on Wednesday, Jan 22, 2014, but there were signs of a widening rift between small car and big car premiums. -- ST FILE PHOTO: CAROLINE CHIA
By Christopher Tan
Certificates of entitlement (COEs) ended mostly higher in the latest tender on Wednesday, but there were signs of a widening rift between small car and big car premiums.
COEs for cars up to 1,600cc closed slightly lower at $72,290, from $72,369 previously. COEs for cars above 1,600cc finished at $79,000, a rise of $300.
Open COEs, which can be used for any vehicle type but end up mainly for bigger cars, dipped from $79,000 to $78,810.
Commercial vehicle COEs closed at $50,001, up from $48,889. The premium for motorcycles shot from $1,989 to $2,704 - its highest level since 1997.
Car dealers said the latest results reflect what the market expects of prices when the new quota period starts next month.
A new engine power criterion for small-car COEs will also apply from February, limiting output to no more than 130bhp - on top of an existing 1,600cc cap on engine capacity. With this, most luxury cars will move over to the big car category, thus relieving bidding pressure in the small car category.
Here are the latest Certificate Of Entitlement results from Wednesday's bidding exercise: