COE premiums fall across all categories in the first bidding round of March

In the first round of bidding for March, Certificate of Entitlement (COE) prices fell across all categories.

Premiums for Cat A, for cars up to 1,600cc in engine capacity and with an output of no more than 130bhp, decreased by $300 (0.9%) and ended at $32,699.

Premiums for Cat B, for larger cars with more than 130bhp or engine displacements larger than 1,600cc, decreased by $88 (0.2%) and ended at $32,801. 

In Cat E, the open category, premiums decreased by $801 (2.4%), and closed at $32,500.

Economic uncertainty following the outbreak of the Coronavirus may be deterring buyers from making new car purchases. This can be seen in the fall in bids for all categories. Bids for Cat A fell this bidding round from 1,564 to 1,436, while bids for Cat B fell to 1,347 from 1,459 at the last bidding round.