In the second COE bidding exercise for December, COE premiums increased slightly across all categories.
Premiums for Cat B, larger cars with more than 130bhp or engine displacements larger than 1,600cc, went up by $4,880 (10.6 percent) and ended at $51,109.
In Cat E, the open category, premiums increased by $379 (0.8 percent), with premiums closing at $50,389.
In a reversal from the previous bidding exercise, COE premiums across all car categories went up, with the highest increase being Cat B COEs.
This is an expected response, as the significant drop in Cat B premiums in the previous exercise likely encouraged an increase in sales. Combined with festive deals during this Christmas period, it is perhaps no surprise that buyers are seeking to purchase their cars now, so that their spanking new rides will be delivered in time for Chinese New Year. We can expect COE premiums to increase in the coming few bidding exercises with the Singapore Motor Show 2017 taking place soon, happening from 12th to 15th January 2017.
