The first COE bidding exercise for November 2018 has concluded. Quota premiums for Cat A and B rose by $2,643 and $1,000 respectively. Cat E dropped by $900.
With 2,849 bids received, the Quota Premium (QP) for Cat A (Cars up to 1600CC & 97KW) shot up by $2,643 to $28,199. In the previous exercise, the QP for Cat A went for $25,556.
For Cat B (Cars above 1600CC or 97KW), with 2,142 bids received, the QP for Cat B rose by $1,000 to $32,302. The previous exercise in October 2018 saw the QP at $31,302.
As for Cat C (Goods Vehicle & Bus), the QP remained the same as the previous round of bidding. It stayed at $29,501.
The biggest drop from this exercise came from Cat D (Motorcycles). The QP dropped by $1,442, from $3,951 in October to $2,509.
Finally for Cat E (Open category), with 862 bids received, it fell by $900, from $32,900 to $32,000.
By the looks of it, the low QP from the previous round may have increased the demand for COE in this bidding exercise. However, due to the lack of supply, car owners had to outbid each other causing the QP for Cat A and B cars to rise. Will this trend continue in the next round of bidding? Only time will tell.
Here’s a summary of the 1st bidding exercise for November 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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