COE premiums rise significantly across the board for November bidding

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

Cat A COE prices rose by 13.2 percent while Cat B premiums increased by 14.8 percent and Cat E prices went up by 9.6 percent

Premiums for Cat A, for cars up to 1,600cc in engine capacity and with an output of no more than 130bhp, increased by $5,495 (13.2 percent) and ended at $47,112.

Premiums for Cat B, larger cars with more than 130bhp or engine displacements larger than 1,600cc, went up by $7,418 (14.8 percent) and ended at $57,414.

In Cat E, the open category, prices also rose by $5,000 (9.6 percent), with premiums closing at $57,000.

The significant increase in COE premiums across the board since the last tender could have been affected by vehicle buyers cashing in on deals at the recent Cars@Expo, which took place on 28^th and 29^th October.

Another contributing factor to this rise in prices could be a mad car buying rush just before the year comes to a close and the new Vehicular Emissions Scheme kicks in next year. The shrinking of the COE quota for the November to January period could also have contributed to this spike in COE prices.