Cat A COE premiums hit an all-time low since 2010

In the first COE bidding exercise for July, COE premiums for all car categories decreased once more, with premiums reaching their lowest point this year for Cat A, B and E.

Cat A COE premiums have hit an eight-year low since March 2010

Premiums for Cat A, for cars up to 1,600cc in engine capacity and with an output of no more than 130bhp, decreased by $9,110 (26.7 percent) and ended at $25,000. This is the lowest Cat A has been since the $28,389 of March 2010.

Premiums for Cat B, larger cars with more than 130bhp or engine displacements larger than 1,600cc, went down by $2,900 (8.6 percent) and ended at $31,000.

In Cat E, the open category, premiums went down by $3,399 (9.9 percent), with premiums closing at $31,001.

This continued downward trend is testament that the new Vehicular Emissions Scheme (VES), which was created to encourage Singaporeans to buy more eco-friendly cars, may be working beyond its original intents and purposes. From July 2018, the revised (stricter) VES rulings mean popular models such as the Toyota C-HR have ended up costing more, hence discouraging many Singaporeans from buying new cars almost entirely.

In the first COE bidding exercise for July, COE premiums for all car categories decreased once more, with premiums reaching their lowest point this year for Cat A, B and E.

Cat A COE premiums have hit an eight-year low since March 2010

In the first COE bidding exercise for July, COE premiums for all car categories decreased once more, with premiums reaching their lowest point this year for Cat A, B and E.

Cat A COE premiums have hit an eight-year low since March 2010