Channel NewsAsia
Updated: 03/05/2014 16:26 | By Channel NewsAsia

COE prices up in all categories but one

COE prices up in all categories but one

COE prices up in all categories but one

SINGAPORE: Certificate of Entitlement (COE) premiums went up across all categories of vehicles except Category A in the latest bidding exercise.

This is the third bidding exercise since the changes were made to the classification of vehicles.

The commercial vehicles category saw the biggest rise, going up by S$3,412 to end at S$56,302.

The open category also saw a significant increase, going up S$3,000 to S$82,000, while COE premium for larger cars in Category B went up S$2,106 to S$80,710.

The COE price for motorcycles ended at S$4,001, up by S$500.

The premium for cars in Category A inched down S$202 to end at S$76,999.

Some dealers said distributors of luxury brands were promoting their cars aggressively, which pushed up demand in the big car and open categories.

Mike Wee, managing partner of Mayfair Motoring, said: "I think Cat A is more or less maintained due to the Lunar New Year sales, which was extremely good and there is a lot of back-log.

"This round, most of the bidding is back-log from the month of February."  - CNA/ac

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