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For July's first COE bidding exercise, premiums for Cat A, B and E all continue to fall, with the $25,000 Cat A being the lowest since March 2010.

04 Jul 2018 | Local News : Singapore

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.
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