SINGAPORE - Certificates of entitlement (COE) prices for cars ended lower across the board in the latest tender on Wednesday.

COE for cars up to 1,600cc and 130bhp closed at $66,590, down from $68,589. COE for cars above 1,600cc or 130bhp finished at $75,002, down from $77,600. Both are now at their lowest level in two months.

Open COE, which can be used for any vehicle type but ends up mainly for bigger cars, closed at $78,001, down from $78,004.

Motorcycle premium also ended lower, slipping from $6,512 two weeks ago to settle at $6,501.

Commercial vehicle COE was the only exception. It closed at $52,001, up from $50,098 previously.

Motor traders expect car premiums to trend downwards for the rest of the year, even if there are minor corrections along the way.