Certificates of entitlement (COE) ended mostly lower in the latest tender, a reflection of the weaker economic sentiment.
The exception was COE for cars up to 1600cc and 130bhp, which finished at $51,507, up from $50,000 two weeks ago.
COE for cars above 1600cc or 130bhp fell from $55,501 to close at a five-month low of $53,001. Open COE, which can be used for any vehicle type but ends up mostly for bigger cars, finished at $54,200, down from $55,201.
Commercial vehicle COE slid from $49,890 to land at $48,702. Motorcycle premium ended at $6353, down from $6501.
Mr Ron Lim, general manager of Nissan agent Tan Chong Motors, said: “The surprise was Category A (cars up to 1600cc). Overall, the market wasn’t strong. We really don’t know the reason for the increase.”
Mr Lim said reductions in the other premiums – especially that for bigger cars – reflected the weaker economy.
As for the drop in commercial vehicle COE, he said it was likely a correction as the premium was nearing the psychological ceiling of $50,000
