SINGAPORE - Certificate of entitlement (COE) prices rose across the board at the latest tender on Wednesday, fuelled by strong replacement demand and fanned by fears that COE numbers could be crimped in the future.

COE for cars up to 1,600cc and 130bhp ended at $64,700, up from $61,410 two weeks ago.Those for cars above 1,600cc or 130bhp closed at $71,889, up from $68,668.

Open COE, which can be used for any vehicle type but ends up mainly for bigger cars, finished at $72,100, up from $70,500 previously.

Commercial vehicle COE shot up from $56,501 to end at $59,999. Motorcycle premiums closed at $5,610, up from $5,501.

Industry observers said bookings have been strong, prompting several leading dealerships to raise prices twice since the last tender exercise in response to the higher demand.

In the mainstream Category A (cars up to 1,600cc and 130bhp), bids outstripped COE supply by a record 2.3 times.

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