COE prices end mostly higher in second December bidding

In the second round of COE bidding in December, premiums for cars recorded an increase with the exception of Cat B, which recorded no change.

COE prices for cars ended mostly higher, with Cat B maintaining the same premium from the last round

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 $1,933 (8.21%) and ended at $25,501.

Premiums for Cat B, larger cars with more than 130bhp or engine displacements larger than 1,600cc, did not record any change and ended at $31,001.

In Cat E, the open category, premiums went up by $958 (3.11%), with premiums closing at $31,809.

The last round of COE bidding saw Cat A premiums reach their lowest level in eight years for the second time this year. With the increase in this round, it indicates that buyers have been encouraged to purchase or renew their COEs due to the low premium.

The increase in COE premiums across the board can also be attributed to the two new car launches since the last round of bidding, the updated Mercedes-Benz C-Class and the Kia Stonic, as well as the recently concluded sgCarMart Carnival.