COE prices end higher in second January bidding

In the second round of bidding for January, COE prices for passenger vehicles 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 $250 (0.96%) and ended at $26,170.

Premiums for Cat B, larger cars with more than 130bhp or engine displacements larger than 1,600cc, went up by $1,789 (5.55%) and ended at $33,989.

In Cat E, the open category, premiums went up by $780 (2.37%), with premiums closing at $33,689.

As predicted, COE prices have increased in this round of bidding with the recently concluded Singapore Motor Show, which saw a record 56,000 visitors who attended. The increase in COE supply will also end in January, which may have encouraged more to purchase new cars and thus driving up COE prices.