COE premiums fall across the board for February second bidding

In the second COE bidding exercise for February, COE premiums see a decrease across the board.

Cat A and B see the most significant drop in premiums for the second round of bidding in February

Premiums for Cat A, for cars up to 1,600cc in engine capacity and with an output of no more than 130bhp, decreased by $3,190 (8.0 percent) and ended at $36,810.

Premiums for Cat B, larger cars with more than 130bhp or engine displacements larger than 1,600cc, went down by $3,322 (7.8 percent) and ended at $39,000.

In Cat E, the open category, prices also fell by $1,102 (2.8 percent), with premiums closing at $38,801.

The drop in COE premiums for this round of bidding is not surprising, considering the lack of any significant new car launches since the Singapore Motor Show last month.

Another contributing factor could be that vehicle buyers have already made their purchases prior to the Lunar New Year and the implementation of the new Vehicular Emissions Scheme, which kicked in earlier this year.