SINGAPORE – Certificate of entitlement (COE) prices ended lower across the board at the latest tender on Wednesday (June 19) as consumers adopted a cautious stance in the light of an uncertain economic outlook.

COE premiums for cars up to 1,600cc and 130bhp closed at $26,999, down from $30,009. COE prices for cars above 1,600cc or 130bhp finished at $35,906, down from $39,728.

Prices for open COE, which can be used for any vehicle type except motorcycles but which ends up mostly for bigger cars, closed at $39,400. It was the first time it ended below $40,000 since March.

Commercial vehicle COE prices slipped by $1 to hit $25,501. Motorcycle premiums ended at $3,000, its lowest point since January.

Market observers said a record number of people extending the lifespan of their vehicle COEs in the first quarter may also have reduced replacement demand. If this persists, premiums should remain soft for the rest of the year.

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