SINGAPORE - The certificate of entitlement premium for smaller cars dipped for a second consecutive tender exercise, while that for larger cars inched up at the latest tender exercise on May 23.
The Open category premium inched up to $105,002 – 0.3 per cent above the $104,689 recorded two weeks ago. These certificates can be used to register any vehicle type other than motorcycles, but are almost always used for bigger, more powerful cars. Combined, there were a total of 2,838 bids entered for Categories A, B and E – down 10.9 per cent from the 3,186 bids at the previous exercise.
The dip in premium seen at the first exercise in May may have prompted consumers to wait for more price corrections before committing to a purchase. Ms Chua believes that the Category A premium may continue to fall “unless Tesla sells a lot of Category A cars”, referring to the launch of the Model 3 RWD 110 on May 17. With less power than the popular 208kW version, the new variant falls under Category A.
Source: News Formal (newsformal.com)
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