SINGAPORE, Nov 5 — Certificate of entitlement (COE) premiums in the city-state came down across the board today, with the price of certificates for smaller cars falling to $110,002 and that for larger cars to $115,001.

This is the second consecutive tender exercise where premiums for COEs used to register cars fell, according to The Straits Times.

Category A COEs, meant for smaller and less powerful cars and electric vehicles (EVs), reportedly dropped to $110,002 (RM461,128) — 9.8 per cent lower than the $122,000 at the previous exercise.

The price of Category A COEs has been edging up since the first tender exercise in June, hitting a record of $128,105 at October’s first tender.

At $115,001, the price of a Category B COE — for larger and more powerful cars and EVs - was 12.8 per cent lower than the $131,889 at the last exercise on October 23.

Car dealers said showroom traffic did not pick up as much as they had hoped since the dip in COE premiums at the previous round. Some said sales promotions at various shopping malls over the past two weeks have not been effective in bringing in more business, as consumers are holding out for COE premiums to fall further before committing to a purchase.

The Open category (Category E) premium fell by 11 per cent from $136,000 to $121,010. Open category certificates can be used to register any vehicle type except motorcycles, but end up mostly for bigger cars.

At $76,000, the commercial vehicle (Category C) COE rate was 1 per cent lower than the $76,801 two weeks ago.

The COE premium for motorcycles (Category D) fell 8.4 per cent from $9,389 to $8,600.