CERTIFICATES of entitlement (COE) for cars fell appreciably at October's first tender exercise, which ended at 4pm on Wednesday.

COE for cars up to 1,600cc closed at $16,999, $942 lower than the previous tender a fortnight ago. COE for cars above 1,600cc ended at $2,487 lower at $17,102. And the Open COE, used mainly for cars, closed $1,199 lower at $18,000. They were the sharpest across-the-board corrections in car COE premiums in recent months.

COE prices for commercial vehicles and motorcycles went the other way. Commercial vehicle COE soared by $3,488 to close at $13,989 - a level not seen since September 2006. Motorbike COE ended $47 higher at $1,101.

The two non-car COEs rose because their supplies were cut at the mid-quota year review announced last month. Supply of car COEs were unaffected.

The tender attracted 6,630 bids vying for 5,174 available COEs.