COEs finish mixed in the second October bidding

In the second COE bidding exercise for October, COE premiums saw a slight decrease in Cat A, while Cat B and E saw premiums go up over the last tender exercise.

Premiums for Cat A, for cars up to 1,600cc in engine capacity and with an output of no more than 130bhp, decreased by $144 (0.3 percent) and ended at $41,617.

Premiums for Cat B, larger cars with more than 130bhp or engine displacements larger than 1,600cc, went up by $1,887 (3.9 percent) and ended at $49,996.

In Cat E, the open category, prices also went up by $3,000 (6.1 percent), with premiums closing at $52,000.

The rise in premiums could be attributed to a combination of buyers rushing to purchase cars following the dip in prices during the last bidding exercise, as well as dealers looking to clear existing stock and meet sales targets as the end of the year looms.

Buyers could also be looking to secure their vehicles ahead of the 1^st January deadline when the new Vehicular Emissions Scheme kicks in, which is likely to result in many models incuring hefty surcharges.