SINGAPORE - Certificates of entitlement (COE) premiums ended mostly higher in the latest tender on Wednesday as the previous price plunge spurred demand.
COE for cars up to 1,600cc and 130bhp finished at $65,689, up from $60,002 two weeks ago. COE for cars above 1,600cc or 130bhp closed at $68,103, down from $70,002.
Open COE, which can be used for any vehicle type but ends up almost exclusively for bigger cars hit $67,290 - up from $65,501.
Commercial vehicle COE ended at $40,889, up from $36,301. Motorcycle premium inched up from $4,001 to close at $4,003.
Motor traders said the results were generally in line with expectations, but were a little surprised by the drop in premium for bigger cars. They expect premiums to trend downwards for the rest of the year.