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COE premiums in the latest COE bidding exercise closed higher across the board, with premiums rising in Cat A, Cat B and Cat E.

21 Oct 2015 | Local News : Singapore

October's second COE bidding exercise closed with premiums rising across the board.

For the first time since August, premiums for all three categories went up
Premiums for Cat A, for cars up to 1,600cc in engine capacity and with an output no more than 130bhp, increased by $1,300 (2.3 percent) to end the bidding tender at $57,301.

Prices for Cat B, larger cars with more than 130bhp or engine displacement larger than 1,600cc, went up by $1,699 (2.9 percent) and ended at $59,889.

In Cat E, the open category, prices increased by $1,199 (two percent), with premiums closing at $60,000.

On the back of the recent announcement that COE supply will remain relatively flat for the November to January period, it seems that car buyers are eager to snap up the current set of available COEs.

The fairly consistent rise across the board for COE premiums (between two to three percent) also points towards a steady demand for new cars, even as commuters explore alternative options such as Uber and GrabTaxi.

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