COE premiums up except smaller cars category
The first COE bidding exercise for 2014 saw premiums ending higher, except for smaller cars.
COEs for big cars rose the most in dollar terms, up some 4 per cent to $78,700.
Open category COE rose by 2 per cent, to hit close to $79,000.
Director of Ricardo Auto Centre, Jeremy Soh, explains that the increase in premiums could be caused by demand for news cars ahead of the Lunar New Year.
"The various categories have gone up except for cat a could be partially due to the CNY crowd - people coming into buy cars and this could have driven up the demand therefore COE went up slightly."
Category 'A' COEs meant for smaller cars fell 2.2 per cent to $72,369.
Premium for the commercial vehicles category went up by close to 1.9 per cent, to $48,889.
Motorcycle COEs went up by close to 10 per cent, to $1,989.
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