COE premiums continue to rise for July second bidding

In the second COE bidding exercise for July, 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, increased by $1,201 (2.8 percent) and ended at $44,002.

Premiums for Cat B, larger cars with more than 130bhp or engine displacements larger than 1,600cc, went up by $199 (0.4 percent) and ended at $50,001.

In Cat E, the open category, prices also rose by $202 (0.4 percent), with premiums closing at $50,101.

The rise of COE premiums for this round could likely be caused by a rush to purchase cars before the Euro 6 emissions standard kicks in in September. This could also be caused by drivers placing orders for recently launched new cars like the Mazda CX-5 and several upcoming ones such as the new Honda Civic Type R and the Lexus LC.