Certificate of Entitlement (COE) premiums rose sharply yesterday, with small cars registering the greatest increases.
Dealers explain that the increases were probably caused by 3-year low COE premiums for small cars in last month’s exercise, as well as a surge in demand for small cars because of discounts offered by dealers during the Chinese New Year period.
Premiums for small cars (up to 1600cc and 97kW) closed at $61,410 at the end of the first bidding exercise this month.
For big cars (above 1600cc and 98kW), premiums rose to $68,668 from $66,751.
Open category COEs, which can be used for any vehicle type, rose to $70,500.
Commercial vehicle premiums rose to $56,501.