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
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