COE premiums for small cars sport a slight grow
09 Jul 2014|5,416 views
The first COE bidding exercise of July concluded with lower COE premiums for large cars under Category B and Category E while Category A premiums for small cars, with an engine capacity up to 1,600cc and no more than 130bhp, ended $91 higher.
At the end of the day, bidding for Cat A COE premiums concluded at $61,990, a miniscule 0.15 percent increase from the last session held a fortnight ago.
Cat B COE premiums, for cars more than 130bhp and 1.6-litre engine capacity, reached $64,889 at the end of today's session - a decrease of $811 or 1.23 percent from two weeks ago.
Premiums under Cat E or Open Category ended $2,300 lower, taking the widest dive of 3.52 percent at the end of the today's session and closed off at $63,001.
Considering the recent COE exercises, it is possible there is a significant shift in buyers purchasing habits partially due to the tight loan restrictions and narrower loan tennure period.
While the affluent still has purchasing power, it seems the choice of cars have shifted while the stringent loan restrictions have hindered buyers looking to replace their aging rides.
However, the release of a handful of new small cars including the all new Toyota Corolla Altis or the Honda City might also have contributed to the short hike today. While we hope it is only a temporary reaction, we presume premiums for small cars will decline further in future sessions.
The first COE bidding exercise of July concluded with lower COE premiums for large cars under Category B and Category E while Category A premiums for small cars, with an engine capacity up to 1,600cc and no more than 130bhp, ended $91 higher.
At the end of the day, bidding for Cat A COE premiums concluded at $61,990, a miniscule 0.15 percent increase from the last session held a fortnight ago.
Cat B COE premiums, for cars more than 130bhp and 1.6-litre engine capacity, reached $64,889 at the end of today's session - a decrease of $811 or 1.23 percent from two weeks ago.
Premiums under Cat E or Open Category ended $2,300 lower, taking the widest dive of 3.52 percent at the end of the today's session and closed off at $63,001.
Considering the recent COE exercises, it is possible there is a significant shift in buyers purchasing habits partially due to the tight loan restrictions and narrower loan tennure period.
While the affluent still has purchasing power, it seems the choice of cars have shifted while the stringent loan restrictions have hindered buyers looking to replace their aging rides.
However, the release of a handful of new small cars including the all new Toyota Corolla Altis or the Honda City might also have contributed to the short hike today. While we hope it is only a temporary reaction, we presume premiums for small cars will decline further in future sessions.
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