SINGAPORE - Certificates of entitlement (COE) took their biggest tumble in recent months on Wednesday, falling across the board to hit among the lowest levels this year.
COE for cars up to 1,600cc and 130bhp dived from $66,000 two weeks ago to hit a four-month low of $61,000. COE for cars above 1,600cc or 130bhp fell from $75,000 to settle at a three-month low of $71,509.
Open COE, which can be used for any vehicle type but ends up mainly for bigger cars, slid from $75,801 to end at $74,501 - another three-month low.
Commercial vehicle COE finished at $50,502, down slightly from the previous $50,900. Motorcycle premium eased to $6,401, from $6,509.
Motor dealers expect the sizeable price correction to draw buyers to showrooms, but most are still predicting prices to fall further in the coming months.
Latest COE results:
|Category||Current COE premium ($)||Previous COE premium ($)|
|A - Car (1600cc & below)||61,000||66,000|
|B - Car (above 1600cc)||71,509||75,000|
|C - Goods vehicle & bus||50,502||50,900|
|D - Motorcycle||6,401||6,509|
|E - Open||74,501||75,801|
Source: Land Transport Authority