Certificates of entitlement (COE) for commercial vehicles breached the $70,000-mark to set yet another record at the latest tender on Wednesday.
COE for trucks, vans and buses settled at $71,001, up from the previous high of $68,251. The premium is now closest to car COE values than it has ever been.
Car COEs ended mostly higher too. COE for cars up to 1,600cc closed at $76,223, up from $75,556. The premium for cars above 1,600cc finished at $76,607, down from $77,600.
Open COE, which can be used for any vehicle type but ends up mainly for cars, rose from $77,989 to end at $79,223.
Motorcycle COE ended at $1,722, down from $1,792.
Motor traders attributed the strong surge in commercial vehicle COE - which has been setting new highs in recent tenders - to the industry clearing its stock of Euro 4 models before the new Euro 5 standards come into force next year.
Here are the latest Certificate Of Entitlement results from Wednesday's bidding exercise:
|Category||Current COE premium ($)||Previous COE premium ($)|
|A - Car (1600cc & below)||76,223||75,556|
|B - Car (above 1600cc)||76,607||77,600|
|C - Goods vehicle & bus||71,001||68,251|
|D - Motorcycle||1,722||1,792|
|E - Open||79,223||77,989|
Source: Land Transport Authority
Click here for a bigger chart.