THE prices of cars and motorcycles look set to rise, following higher certificate of entitlement (COE) premiums for such vehicles recorded at the latest tender exercise on Wednesday (Mar 20).

The COE premium for commercial vehicles was the only one that recorded a dip.

At S$85,489, the price of COEs for smaller, less powerful cars is 3 per cent higher than the S$83,000 recorded at the previous exercise two weeks ago.

For larger, more powerful cars, the COE premium is also up, by S$1, to end at S$96,011.

The price of Open category COEs also edged up, by 0.9 per cent, to end at S$95,856, from S$95,010. Open category certificates can be used to register any vehicle type other than motorcycles but end up almost exclusively for larger, more powerful cars.

The COE premium for motorcycles was S$9,689, up 3.1 per cent from S$9,400.

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The COE price for commercial vehicles tumbled 7.3 per cent to S$70,112, from S$75,599 at the previous tender exercise. THE STRAITS TIMES