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The first round of COE bidding in 2018 closed with mixed results, as Cat A premiums went up while Cat B and E continued to drop.

04 Jan 2018 | Local News : Singapore

In the first COE bidding exercise of 2018, COE premiums for Cat A went up, whilst premium for Cat B and E continued to drop. 

Cat A premiums increased, while Cat B and E premiums fell slightly
Premiums for Cat A, for cars up to 1,600cc in engine capacity and with an output of no more than 130bhp, increased by $3,200 (8.4 percent) and ended at $41,400.

Premiums for Cat B, larger cars with more than 130bhp or engine displacements larger than 1,600cc, went down by $1,713 (3.6 percent) and ended at $45,289.

In Cat E, the open category, pemiums decreased by $621 (1.3 percent), with premiums closing at $47,390.

Now that the new Vehicular Emissions Scheme (VES) has kicked in and customers are privy to the new prices of cars, it's understandable that demand for larger capactiy cars continues to remain lower (as these cars are generally more heavily impacted by the new VES surcharges).

Bids for Cat A COEs increased, while the quota shrank slightly, thus contributing to the 8.4 percent increase in premium. Bids for Cat B and E COEs have remained fairly consistent over a six month period (with the exception of a spike in Cat B bids for November). 

With the Government having announced a zero-growth stance for the car population come this February, it will be interesting to watch what happens in the coming months. The upcoming Singapore Motor Show will see the launch of many new models. However, with COE extension numbers hitting an all-time high last year, along with the impact of the new VES driving many car prices upwards, it appears that there is presently no rush from drivers looking to buy new cars.

The next few COE bidding exercises will offer us a clearer indication of customer buying sentiment for 2018.
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