WITH the exception of motorcycle premiums, COE prices ended markedly higher all round at the latest tender which ended on Wednesday.

Certificate of entitlement for cars up to 1,600cc ended $1,400 higher at $9,889. COE for cars above 1,600cc closed at $9,180, or $1,628 higher than two weeks ago.

Open COE, which can be used for any vehicle type but ends up mainly for cars, breached the $10,000-mark for the first time in six months. It finished $1,545 higher at $10,046.

Commercial vehicle COE was $500 higher at $7,600, while motorcycle COE closed $92 lower at $810.

Motor Traders Association president Ms Tan Kheng Hwee said the main reason for the increase was the 24 per cent cut in COE supply, which kicked in in April.

But she added that car prices are still relatively low.

'Relative to historical prices, $10,000 is a very low price to pay for a COE,' she said. 'If confidence returns and the economy recovers, COEs will hit $20,000 to $30,000 in a flash.

'In my opinion, for anyone who wants to be driving for the next 10 years, buy now or else be prepared to pay a lot more in six to 12 months.'