By Christopher Tan

CAR certificate of entitlement (COE) prices climbed at the close of the latest tender yesterday.

This was fuelled partly by sporadic sales promotions over the weekend that drew buyers to showrooms.

Motor traders said that several car dealerships were restrained in raising prices in recent weeks despite rising premiums. In fact, some had cut prices.

Volkswagen Singapore launched a clearance sale for the VW Polo to make way for the new model. It cleared all the 20 or so cars last weekend.

Kia priced its new two-door Koup at about $60,000 and buyers snapped up 100 last weekend, bringing bookings in hand to more than 200 now.

Cycle & Carriage Kia senior manager Chin Kee Min said he was "pleasantly surprised". The opposite was true for the commercial vehicle segment.

Mr Steve Poh, general manager of Wearnes Automotive's Renault division, said there were just no takers with the COE premium at over $21,000.

"I think the threshold is about $18,000," he said. "If it goes any higher than that, people stay away. Some even say they would rather buy a car."

Motor traders said there are still many Open and commercial vehicle COEs - both of which are transferable - in the market. Hence, speculators who trade in these took a back seat this time round.

Yesterday's results, however, meant car prices would rise. Nissan agent Tan Chong said it is likely to increase prices by $1,000 to $2,000.

CERTIFICATE OF ENTITLEMENT (COE) prices for cars in Category A have hit a new high for 2009.

Following the close of October's second bidding exercise on Wednesday, premiums for Cat A - cars below 1600cc and taxis - reached $18,899, a 16.6 per cent rise from the month's first bidding.

This surpasses the $18,020 which was attained in September.

In Cat B - cars above 1,600cc - COE prices ended off at $19,510 - a 7.7 per cent jump from $18,109. Cat B premiums peaked at $19,801 in 2009, during September's second round of bidding.

For the goods vehicle and bus category, premiums dropped some 16.5 per cent, cooling off at $18,110. Earlier bidding this month saw Category C hit a whopping $21,692, a response to the 28.1 per cent reduction in the number of COEs for this segment.

Motorcycle premiums increased about 3.2 per cent, from $902 to $931.

COEs for the open category dipped to below the $20k level at $19,901, after the month's earlier strong showing of $21,301 and September's 2nd bidding price of $20,200.