Slight increase in COE prices for first round of April bidding

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

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 $235 (0.45 percent) to end the bidding tender at $52,000.

Premiums for Cat B, larger cars with more than 130bhp or engine displacements larger than 1,600cc, went up by $405 (0.75 percent) and ended at $54,405.

In Cat E, the open category, prices rose by $55 (0.1 percent), with premiums closing at $54,556.

The slight increase for the first bidding in April could likely be caused by dealers filling orders for car buyers who made their purchases after the announcement of the new Vehicular Emissions Scheme (VES), which sparked a period of 'panic buying'. This could be due to a sustained interest from buyers who may be purchasing new cars before the VES kicks in.