COE prices for big cars, motorcycles and Open category shoot up
Premiums for big cars, motorbikes, Open category shoot up
Certificate of entitlement (COE) prices for big cars, motorcycles and the Open category shot up in the latest tender.
In the results released yesterday, the Cat B premiums went up by about $5,406 to $39,406, while the Cat E premiums also went up, by about $2,988 to $39,889.
The uptick in prices for cars above 1,600cc and 130bhp and the Open COE bucked the downward trend since May.
It indicates a significant increase in demand for the latest round compared with the second quarter of the year.
This was attributed to growing competition between car makers, with several recent launches of premium vehicles.
The prices for Cat D premiums, for motorcycles, were also the highest since end March, going up by $473 to $3,554 from the previous round of bidding.
Cat A premiums, for cars up to 1,600cc and 130bhp, fell to $26,667 from $28,589 in the previous round.
It is expected to maintain at current levels or fall further due to weak consumer sentiment.
Premiums for Cat C, for commercial vehicles, continued to fall to close at $24,599, down from $25,089.
Cat A (Cars 1,600cc and below):
$26,667 (previously $28,589)
Cat B (Cars above 1,600cc):
$39,406 (previously $34,000)
Cat C (Goods vehicles and
$24,599 (previously $25,089)
Cat D (Motorcycles):
$3,554 (previously $3,081)
Cat E (Open category):
$39,889 (previously $36,901)