In the first round of bidding in October, Certificate of Entitlement (COE) prices across the board for Cat A, B and E rose.

Premiums for Cat A, for cars up to 1,600cc in engine capacity and with an output of no more than 130bhp, increased by $2,242 (7.1%) and ended at $34,001.

Premiums for Cat B, larger cars with more than 130bhp or engine displacements larger than 1,600cc, increased by $4,361 (11.8%) and ended at $41,361.

In Cat E, the open category, premiums went up by $1,001 (2.5%), with premiums closing at $41,001.

The sizable increase in COE premiums across the board may be due to the fact that this was a three-week bidding round, inviting more bids than usual.

Further interest in car purchases for this bidding round may also have been generated from the recent Cars@Expo exhibition. This can be observed from the increase in bids received, which rose from 1,453 to 1,659 for Cat A, and 1,418 to 1,559 for Cat B.