Small-car COE premium up slightly
SINGAPORE - Small-car premiums continued to inch up 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.
This is still shy of the $74,689 record high that was set after car-cooling measures were announced in February.
But COE prices for cars above 1,600cc continued to slide. The premium dipped from $77,110 to $76,389 on Wednesday, following expectations that Category B COEs will get a bigger bump from next month.
Open COEs, which can be used for any vehicle type but end up mostly for cars, saw a fall in premium from $77,000 to $76,802. Commercial vehicle COE prices rose from $61,011 to hit $65,036 - the highest since the quota system was introduced in 1990.
Motorcycle COE premiums finished at $1,712, up from $1,610 previously.
The latest COE prices came on the back of last week's Land Transport Authority figures that showed there will be nearly 12,000 COEs for car buyers in the next six months, a rise of 14.2 per cent.
For cars above 1,600cc, there will be 746 COEs every month until January, a 23.3 per cent increase.
For open category COEs, the monthly supply will rise by 9.7 per cent to 522.
For Category A COEs for smaller cars up to 1,600cc, it will grow by 9 per cent to 728.