Certificate of entitlement (COE) prices ended mostly higher on the back of sales whipped up by the recently concluded Singapore Motorshow.
COE premiums for cars up to 1,600cc and 130bhp closed at $26,170, up from $25,920. COE prices for cars above 1,600cc or 130bhp finished at $33,989, up from $32,200.
Premiums for open COEs, which can be used for any vehicle type except motorcycles, but which end up used mostly for bigger cars, closed at $33,689, up from $32,909.
Commercial vehicle COE prices ended at $26,230, down from $27,002. Motorcycle premiums finished at $2,889, down from $3,610.
The Singapore Motorshow, which ended on Jan 13, drew 56,000 visitors, up from 55,000 who turned up for the 2018 show.
Industry players also point to increased demand for private-hire cars with the arrival of Indonesia’s Gojek as another factor contributing to the COE rise.
An expected shrinkage in COE supply for the February-April quota period may have caused some panic buying.
There will be fewer certificates of entitlement (COE) for the next three months starting from February.
The Land Transport Authority (LTA) said the supply of Category A COEs, which are for cars up to 1,600cc, will shrink by 9.1 per cent to 3,300 a month.
Category B (cars above 1,600cc) will have 2.9 per cent fewer certificates, at 2,471 a month.
There will be 26.4 per cent fewer open category COEs, which are for all vehicles except motorcycles, at 784 a month.
Commercial vehicle buyers and sellers will have 25.2 per cent fewer COEs, at 1,651 per month.
And motorcyclists will see a 7.6 per cent dip in their COE supply to 608 pieces a month.
In total, the supply is 12.9 per cent smaller than the November-January quota.
Latest COE prices as at Wednesday, Jan 24.