Premiums for certificates of entitlement (COEs) ended mostly lower in the latest tender yesterday, a reflection of the weaker economic sentiment.
The exception was the COE for cars up to 1,600cc and 130bhp, whose cost finished at $51,507, up from $50,000 two weeks ago.
COE for cars above 1,600cc 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 $6,353, down from $6,501.
Ron Lim, general manager of Nissan agent Tan Chong Motors, said: “The surprise was Category A (cars up to 1,600cc).
“Overall, the market wasn’t strong. We really don’t know the reason for the increase.”
He added that reductions in the other premiums – especially that for bigger cars – reflected the weaker economy.
As for the price dip in commercial vehicle COE, he said it was likely a correction as the premium was nearing the psychological ceiling of $50,000.
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