COE prices end lower in second November bidding

In the second round of COE bidding in November, all premiums ended lower, with Cat A recording the biggest drop.

COE prices have dipped across the board, with Cat A recording the biggest decrease at $3,199

Premiums for Cat A, for cars up to 1,600cc in engine capacity and with an output of no more than 130bhp, fell by $3,199 (11.34%) and ended at $25,000.

Premiums for Cat B, larger cars with more than 130bhp or engine displacements larger than 1,600cc, fell by $1,201 (3.72%) and ended at $31,101.

In Cat E, the open category, premiums went down by $1,041 (3.25%), with premiums closing at $32,959.

The LTA announced previously that the COE supply will increase from November onwards, and the resounding success of the recent Cars@Expo saw a spike in bids received across all categories in the first round of bidding in November.

The dip in COE prices across the board is a result of fewer bids in both Cat A and B, with premium thus falling to around what they were in the second round of bidding in October. The relatively low COE premiums across the board are a result of the increased COE quota and a relatively steady demand for new cars over the past few months.