COE prices rise across all categories with big car premiums clipping $65k
23 Jul 2014|4,373 views
The second COE bidding session for July ended higher across all categories.
COE premiums for small cars, cars no larger than 1,600cc in engine displacement and containing no more than 130bhp, now cost $62,890, 1.4 percent more than the amount recorded in the previous session, amounting to a difference of $900.
Cat B premiums ended $112 higher from the last session in early July and concluded today at $65,001, a difference of 0.2 percent. This is the first time premiums for this category have seen a spike in value after it went on an downward spiral since early April.
Category E or the Open Category also saw an increase in value after recording $65,002, a difference of 3.1 percent. This is also the largest climb in this exercise, amounting to $2,001.
Higher COE premiums can be attributed to the influx of new car models in the market this year, such as the highly popular Toyota Corolla Altis, which has topped the local sales chart. Likewise, premium cars like the Mercedes-Benz E-Class and the newly launched Porsche Macan garnered strong interest from local buyers.
The increase in premiums has also arrived on the back of new COE quotas, which were announced by the Land Transport Authority (LTA) recently. For the next quarter covering August to October 2014, more COEs have been assigned to Cat A and Cat B while the Open Category faces an 18.4 percent drop. The overall monthly quota allocations have also shrunk by six percent.
The expected drop in supply of Cat E COE, naturally, accounts for the hike in premiums for the category.
The second COE bidding session for July ended higher across all categories.
COE premiums for small cars, cars no larger than 1,600cc in engine displacement and containing no more than 130bhp, now cost $62,890, 1.4 percent more than the amount recorded in the previous session, amounting to a difference of $900.
Cat B premiums ended $112 higher from the last session in early July and concluded today at $65,001, a difference of 0.2 percent. This is the first time premiums for this category have seen a spike in value after it went on an downward spiral since early April.
Category E or the Open Category also saw an increase in value after recording $65,002, a difference of 3.1 percent. This is also the largest climb in this exercise, amounting to $2,001.
Higher COE premiums can be attributed to the influx of new car models in the market this year, such as the highly popular Toyota Corolla Altis, which has topped the local sales chart. Likewise, premium cars like the Mercedes-Benz E-Class and the newly launched Porsche Macan garnered strong interest from local buyers.
The increase in premiums has also arrived on the back of new COE quotas, which were announced by the Land Transport Authority (LTA) recently. For the next quarter covering August to October 2014, more COEs have been assigned to Cat A and Cat B while the Open Category faces an 18.4 percent drop. The overall monthly quota allocations have also shrunk by six percent.
The expected drop in supply of Cat E COE, naturally, accounts for the hike in premiums for the category.
Latest COE Prices
April 2024 | 2nd BIDDING
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CAT A$94,010
CAT B$102,001
CAT C$68,502
CAT E$103,249
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