Certificate of entitlement (COE) prices ended lower across the board at the latest tender on Wednesday as near record premiums in the previous round kept buyers away.
COE for cars up to 1,600cc finished at $76,889 - down from $85,000 two weeks ago but still among the highest levels this year.
COE for cars above 1,600cc closed at $87,910 - down from $93,500 previously. Open COE, which can be used for any vehicle type but ends up mainly for bigger cars, ended at $92,289 - down from $93,889. Commercial vehicle COE fell from its all-time high of $76,310 to close at $68,002. Motorcycle premium slipped from $1,961 to finish at $1,804.
The industry expects prices to climb back up in the coming tenders as dealers rush to clear stock before new regulations kick in next year. From Jan 1, all new diesel vehicles have to meet the more stringent Euro 5 emission standard. And from February, cars belonging to Category A must not have more than 130bhp in engine power in addition to having a displacement of no more than 1,600cc.
Here are the latest Certificate Of Entitlement results from Wednesday's bidding exercise:
|Category||Current COE premium ($)||Previous COE premium ($)|
|A - Car (1600cc & below)||76,889||85,000|
|B - Car (above 1600cc)||87,910||93,500|
|C - Goods vehicle & bus||68,002||76,310|
|D - Motorcycle||1,804||1,961|
|E - Open||92,289||93,889|
Source: Land Transport Authority