Slight rebound for COE premiums in March's first bidding

After two consecutive rounds of price drops, March's first COE bidding exercise saw a slight rebound in prices - despite the surge in COE quota. The rise in demand may have been spiked by previous price drops, coupled with the long Chinese New Year holidays, which gave buyers more time to consider their purchase.

Premiums for Cat A, for cars up to 1,600cc in engine capacity and with an output no more than 130bhp, saw the greatest increase of $4,211 (or 7.4 percent) and ended at $61,410.

Price for Cat B premiums, for larger cars with more than 130bhp or engine displacement larger than 1,600cc, went up by close to $2,000 to end the bidding tender at $68,668 - from $66,751 in the last tender.

Premiums for the Open Category, also known as Cat E, ended at $70,500 - an increase of $2,599 (or 3.8 percent) from $67,901 two weeks ago.