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15 Mar 2017 | Local News : Singapore
COE prices for the first round of bidding in March see a continued increase for all categories, with Cat B premiums rising by more than five percent.
In the first COE bidding exercise for March, COE premiums for Cat A, B and E see a continued increase since the last tender.
Premiums for Cat A, for cars up to 1,600cc in engine capacity and with an output of no more than 130bhp, went up by $1,359 (2.75 percent) to end the bidding tender at $50,789.
Premiums for Cat B, larger cars with more than 130bhp or engine displacements larger than 1,600cc, went up by $2,679 (5.29 percent) and ended at $53,300.
In Cat E, the open category, prices also rose by $2,001 (3.92 percent), with premiums closing at $53,001.
The continued rise in COE premiums for the first round of bidding in March could be the result of 'panic buying' following the announcement of the new Vehicular Emissions Scheme (VES), which takes effect on 1st January 2018. This could lead to a steady rise in COE premiums across the board in the coming months before the VES kicks in.