Wednesday, July 18, 2012

COE for open category hits $92,700

SINGAPORE - Premiums for certificates of entitlement (COE) soared to $92,700 at the end of July's 2nd bidding at 4pm yesterday.

The category vehicles in the open category (Cat E) saw an increase of 6.6 per cent from the last bidding two weeks ago which ended at $86,999.

The COEs in this category can be used for any vehicle type but usually ends up for bigger cars.

COE prices for all other categories also increased, with the premiums for small cars of up to 1,600cc in Cat A registering the highest increase of 15.5 per cent.

This is up $68,656 from $59,421 from the last bidding two weeks ago.

Cat A's increase was predicted by analysts of the motoring industry and widely reported in the media. With the quota for this category to further decrease over the next six months, coupled by more luxury brands introducing smaller cars, the premiums in Cat A may increase even further in the near future.

Premiums for big cars of above 1,600cc in Cat B touched the $90,000 mark after two months. The bidding ended at $90,501, a 10 per cent increase from last bidding's $82,289.

July 2nd bidding
Category July 18 prices July 4 prices
Cars (1600CC & below) & taxis $68,656 $59,421
Cars (above 1,600CC) $90,501 $82,289
Commercial vehicles $55,805 $55,556
Motorcycles $1,859 $1,760
Open category $92,700 $84,389
Motorcycles too saw a marginal increase of 5.6% to $1,859.

This is up from $1,760.

Cat C, goods vehicles and buses, saw the smallest increase of just 0.45 per cent to $55,805 from $55,556.

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