Unexplained spike in COE prices

Certificate of Entitlement (COE) prices moved upwards across all categories at the close of February's first bidding exercise today.

Premiums for Cat A - cars up to 1,600cc and taxis - registered a 9.8 per cent increase from last month's bidding to $52,809.

COE prices for cars above 1,600cc (Cat B) and the open category (Cat E) crossed the $70,000 mark, finishing at $73,890 and $73,801 respectively. This was an 8.8 per cent increase for Cat B and a 10 per cent jump for Cat E.

The goods vehicle and bus category, Cat C, saw the largest increase of 13.2 per cent from $44,001 to $49,801, which is also an all-time high.

COE premiums for motorcycles, Cat D, increased from $1,552 to $1,802.

Car dealers could not account for the unexplained spike in prices but it could be that the prices are quite sensitive at the moment due to the smaller quota that kicked in this month.

The current quota for the six-month period from February to July is the smallest ever.

ORIGINAL SOURCE
Content used in this not-for-profit blog remain the property of their respective owners.