COE prices end higher in first bidding of 2019

In the first round of bidding for this year, COE prices have ended higher across the board, with Cat B recording the biggest increase.

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 $419 (1.64%) and ended at $25,920.

Premiums for Cat B, larger cars with more than 130bhp or engine displacements larger than 1,600cc, went up by $1,199 (3.87%) and ended at $32,200.

In Cat E, the open category, premiums went up by $1,101 (3.46%), with premiums closing at $32,909.

Despite the increase, COE prices have been relatively stable for the past few rounds of bidding exercises. This should have encouraged buyers to purchase new cars or renew their COEs. COE prices are expected to continue to increase too, with the Singapore Motor Show scheduled to start tomorrow, further driving up the demand for new car registrations.