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COE premiums rose across the board in the most recent bidding round
In the most recent 19 August COE bidding exercise, premiums for Cat A, for cars up to 1,600cc in engine capacity and with an output of no more than 130bhp, increased by $2,701 (8.2per cent) and ended at $35,710 this bidding round. Premiums are now at a 12-month high.
Premiums for Cat B, for larger cars with more than 130bhp or engine displacements larger than 1,600cc, took a jump this bidding round by $1,700 (4.6per cent) and ended at $38,802. Premiums for this round are now at the 65th percentile of the 12-month trailing average.
“The record high Cat A premium is due to the backlog created as a result of the circuit breaker, coupled with the shrinking quota pushing the price up. Short term wise, prices will remain stable and not increase significantly due to the weak economy,” highlights Nicholas Wong, General Manager of Kah Motor.
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