Cat A COE continues to climb for fifth consecutive session

In the second round of bidding for December, Certificate of Entitlement (COE) prices rose for Cat A and Cat B, while those for Cat E fell.

Shoppers detered by the prevailing high COE prices may be opting to purchase smaller and less powerful vehicles instead, driving the sustained climbs in the past session of premiums for Cat A COEs.

Cat A COE - Fifth consecutive climb this session

Premiums for Cat A, for cars up to 1,600cc in engine capacity and with an output of no more than 130bhp, continued to climb for the fifth consecutive round this session.

A climb of $1,791 (3.1 per cent) sees premiums for the category reaching $58,801 this session.

This sustained rise in premiums for the category has brought current premiums standing at 26 per cent higher than the 12-month trailing average.

The number of unsuccessful bids this round exceeded the available quota by 39 per cent. The 12-month average of this figure currently stands at 40 per cent for the category.

Cat B COE - A small jump this session

Premiums for Cat B, for larger cars with more than 130bhp or engine displacements larger than 1,600cc, climbed this session by $588 (0.7 per cent) to end at $80,989.

Premiums for the category now stand at 35.2 per cent above the 12-month trailing average thanks to this latest climb. This price is at the 93rd percentile of the prices of the last 12 months.

The total number of unsuccessful bids this round exceeded the quota available by 39 per cent, while the 12-month average for this category stands at 39 per cent.

Cat C COE - A $1,000 drop this session

Premiums for Cat C, for goods vehicles and buses, fell by $1,000 (2.2 per cent), closing at $44,000.

The number of unsuccessful bids this round exceeded the available quota by 67 per cent, while the 12-month average for this category stands at 84 per cent.

Cat E COE - A small $1,111 slip

Cat E, the open category, fell for the third consecutive time this session. Premiums for the category fell by $1,111 (2.5 per cent) to reach $83,889 this session.

This latest drop sees premiums for the category reaching 34.6 per cent above the 12-month trailing average. This price is at the 84th percentile of the prices of the last 12 months.

Prevailing Quota Premium

The Prevailing Quota Premium is the amount to be paid for COE renewal and is computed from the moving average of the previous three months of COE prices. Those looking to renew the COE on their cars will thus have to pay the following prices for the respective months.

This article was first published in sgCarMart.