SINGAPORE - Certificates of entitlement (COE) ended lower at the latest tender on Wednesday, with the exception of the motorcycle premium.
COE for cars up to 1,600cc and 130bhp closed at $58,700, down from $61,000 previously. COE for cars above 1,600cc or 130bhp finished at $65,501, down from $71,509.
Open COE, which can be used for any vehicle type but ends up mainly for bigger cars, fell from $74,501 to end at $69,001. The latest premiums are now at their lowest in at least five months.
Commercial vehicle COE dipped slightly to $50,001, from $50,502.
Motorbike premium however, ended higher at $6,508 - up from $6,401.
The general drop in COE prices, especially for cars, has been widely expected.
Traders said the fear of price rises on the back of a revised carbon tax that came into effect on July 1 led to a surge in "forward buying".
Now that the new tax is already in place, there is no more rush to beat the July 1 deadline.
Latest COE results:
|Category||Current COE premium ($)||Previous COE premium ($)|
|A - Car (1600cc & below)||58,700||61,000|
|B - Car (above 1600cc)||65,501||71,509|
|C - Goods vehicle & bus||50,001||50,502|
|D - Motorcycle||6,508||6,401|
|E - Open||69,001||74,501|
Source: Land Transport Authority