CERTIFICATES of entitlement ended higher on Wednesday, the last tender before an adjustment is made for the next six-month period from October to March.

COE for cars up to 1,600cc rebounded strongly from the previous tender's slump. It ended at $14,100, or 48 per cent higher than the last price. It is one of the biggest fluctuations between two tenders.

COE for cars above 1,600cc finished flat at $13,301, or merely 0.7 per cent lower than the last premium.

The Open category, used mainly for cars, was up by 4.1 per cent at $14,889.

The increase, partly fuelled by an anticipated reduction in COE numbers for the next six months, was felt by commercial vehicle buyers and motorcyclists too. Commerical vehicle COE climbed by 7.2 per cent to $14,890, while motorbike COE rose by 7 per cent to an eight-year high of $1,554.

Motor traders said bidding was more aggressive this round also because the next tender is three weeks away - longer than the usual two-week break. This was reflected by the number of bids submitted. Overall, 6,555 bids were submitted, 11 per cent more. The number of car COE bids however was 20 per cent more at 4,053.

The Land Transport Authority will release the supply for the next six months shortly.

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