The premiums for buying small cars continue to inch up in the latest tender on Wednesday, following news that more Certificates of Entitlement (COE) will be available for car buyers in the next six months.
COE premiums for cars up to 1,600cc rose marginally from $73,100 two weeks ago to hit $73,989 - its second highest level since car-cooling measures were announced in late-February.
COE for cars above 1,600cc slid from $77,110 to close at $76,389, also its second highest since the strident loan curbs and tiered taxation system were announced.
Open COE, which can be used for any vehicle type but ends up mostly for cars, fell from $77,000 to $76,802. Tthis was its second highest point since February.
Commercial vehicle COE rose from $61,011 to hit $65,036 - the highest it has ever reached since the quota system was introduced in 1990.
|Category||Current COE premium ($)||Previous COE premium ($)|
|A - Car (1600cc & below)||73,989||73,100|
|B - Car (above 1600cc)||76,389||77,110|
|C - Goods vehicle & bus||65,036||61,011|
|D - Motorcycle||1,712||1,610|
|E - Open||76,802||77,000|
Source: Land Transport Authority
Motorcycle COE finished at $1,712 from $1,610 previously.
The latest car premium prices come on the back of the Land Transport Authority's figures showing that there will be nearly 12,000 COEs for car buyers in the next six months, a rise of 14.2 per cent.