The results of the first COE bidding exercise for October 2018 are out. COE prices for Cat A and E went up slightly, while Cat C saw an increment of $1,397 from the previous exercise.
With 2,059 bids received, Cat A (Cars up to 1600CC & 97KW) saw a slight increment in price, going from $28,000 to $28,457. At $457 more, interested car buyers would probably find this amount negligible when deciding to purchase a new car.
As for Cat B (Cars above 1600CC or 97KW), the COE premium fell by a mere $6 from the previous exercise. It currently stands at $31,301, from $31,307.
The biggest increment in this exercise came from Cat C (Goods vehicles & buses), which saw a hike of $1,397 from the last exercise. The premium is currently going for $28,501, from $27,104.
For Motorcycles, there was a slight $105 dip in COE prices. It drop from $4,214 to $4,109.
Concluding the October 2018 bidding exercise is Cat E (Open category). The COE price for the open category concluded at $32,552, increasing by $552 from the last exercise.
Overall, this bidding exercise for October 2018 shouldn’t influence potential car owners from purchasing a new vehicle, unless they are looking to buy a goods vehicle or bus.
Here’s a summary of the 1st bidding exercise for October 2018.
Current COE premium
Previous COE premium
A – Car up to 1600CC & 97KW
B – Car above 1600CC or 97KW
C – Goods Vehicle & Bus
D – Motorcycle
E – Open
Thinking about upgrading your car after seeing the latest COE results? Motorist.sg can help you transact your vehicle at the highest possible price. Simply click on the button below to receive an online car valuation today. This service is completely free, with zero obligations.
For those looking to renew their COE, Motorist.sg also provides free COE renewal advice. That way, you can decide if its a better option to scrap your vehicle or extend its life.
Submit your details below to receive a FREE consultation for your COE renewal bank loan
Download the new Motorist app now. Designed by drivers for drivers, this all-in-one app lets you receive the latest traffic updates, gives you access to live traffic cameras, and helps you manage LTA and vehicle matters.