Nearly all COE premiums down in May

Only premiums for open category vehicles went up to $38,700.

Most premiums for certificates of entitlement (COE) fell in the second bidding in May, the Land Transport Authority (LTA) revealed.

Premiums for small cars (up to 1600CC and 97KW) hit $38,001, down from $38,941 two weeks ago. Premiums for large cars (over 1600CC or 97KW) dropped from $38,501 to $37,989.

The COEs for goods vehicles and buses fell from $33,190 to $37,989. Motorcycle premiums also dipped from $7,204 to $7,115.

Only the COEs for open category, which can be used all vehicles except motorcycles, rose from $38,600 to $38,700.

Maybank Kim Eng analyst Chua Hak Bin noted that lower COE premiums, especially in April, weighed down headline inflation. “This more than offset the steeper rise in petrol prices,” he said.