Mixed results for first round of COE bidding in May

In the first COE bidding exercise for May, COE premiums see a slight decrease for Cat A and a slight increase for both Cat B and Cat E.

Premiums for Cat A, for cars up to 1,600cc in engine capacity and with an output of no more than 130bhp, went down by $494 (0.96 percent) to end the bidding tender at $51,106.

Premiums for Cat B, larger cars with more than 130bhp or engine displacements larger than 1,600cc, went up by $1,008 (1.85 percent) and ended at $55,414.

In Cat E, the open category, prices also rose by $384 (0.7 percent), with premiums closing at $55,000.

The relatively stable COE prices for this round of bidding could be caused by less 'panic buying', which saw premiums shoot up over the past few months and start to die down during the last tender. The slight increase in Cat B premiums this round could also be caused by the Cars@Expo, which was held last weekend. Considering these factors, we wouldn't be surprised if COE prices continue to fluctuate.