Certificates of entitlement (COE) remained generally stable at the latest tender on Wednesday despite expectations that the reformatted Category A would dive.
COE for Cat A (cars up to 1,600cc and 130bhp) ended at $71,564 - a mere dip from last fortnight's $72,290, even though a power cap has moved several models out of the category.
In fact, it was Cat B (cars above 1,600cc and 130bhp) that took a bigger tumble, falling from $79,000 to close at $75,300. Open COE, which can be used for any vehicle type but ends up mainly for bigger cars, finished at $77,003, just shy of its previous close of $78,810.
Commercial vehicle premium crept up from $50,001 to end at $51,002. Motorcycle finished at $3,051, up from its previous 17-year high price of $2,704.
The results puzzled motor traders, many of whom were expecting Cat A to post a sizeable correction, and Cat B to soar with the recategorisation, which takes effect from this month.
Here are the latest Certificate Of Entitlement results from Wednesday's bidding exercise:
|Category||Current COE premium ($)||Previous COE premium ($)|
|A - Car (1600cc & below)||71,564|| 72,290
|B - Car (above 1600cc)||75,300||79,000|
|C - Goods vehicle & bus||51,002||50,001|
|D - Motorcycle||3,051||2,704|
|E - Open||77,003||78,810|
Source: Land Transport Authority