SINGAPORE: Prices for Certificates of Entitlement (COE) for all vehicle types, except motorcycles, ended lower at the close of Wednesday's bidding exercise.
The premium for small cars or Category A dropped $1,831 to $73,160.
Closing at almost the same price was the premium for big cars. It saw the biggest drop of nearly eight per cent, or S$6,290, to end at S$73,010.
COE premium for commercial vehicles ended at $51,112, a seven per cent decrease from its previous amount.
Bucking the trend were motorcycles, which saw the premium edge up by S$70 to S$1,782.
The premium for Open Category COEs, which can be used for any vehicle type but usually end up mainly for bigger cars, was 7.3 per cent lower at $76,901.
Car dealers told Channel NewsAsia it is not unusual to see the premium for big cars falling below that for smaller vehicles.
And they believe this could drive demand for big cars as consumers are unlikely to want to pay a higher or even the same premium for a smaller car.
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