|Cat A (Up to 1,600cc and 130bhp)||Cat B (Above 1,600cc or 130bhp)||Cat C (commercial Vehicle)||Cat E (Open Category)|
|18th July Tender||$32,699||$32,551||$30,889||$32,809|
|4th July Tender||$25,000||$31,000||$31,092||$31,001|
Cat A premium surged by almost $8,000 from the last round of bidding to $32,699. The surge for Cat B and E cars was less drastic with premiums ending at $32,551 from $31,000 and $32,809 from $31,001 respectively. COE premium for commercial vehicles dipped slightly from $31,092 to $30,889.
A hike in Cat A (small cars up to 1,600cc and 130bhp) car-buying interest has been observed earlier this month due to the fall in COE premium in July first tender. With more people buying cars, the number of bids submitted in July second round was almost doubled (3,100) compared to the bids submitted in the first round (1,626). Due to higher demand from the market, a rebound in COE premium was more or less expected.
With the announcement of increased COE quota for next quarter, we would expect Cat A COE to hover around this price or drop gradually in the next few rounds of bidding but wouldn’t expect it to drop back to $25,000. This is because the drastic fall in COE premium in July first round tender was partly due to the 20-minute technical glitch which prevented several dealers from submitting their bids. As many people failed to submit their bids due to the glitch, the fall in demand in July first round was a false impression and doesn’t accurately represent the real market demand for Cat A cars. Hence, if demand remain intact, the chance that Cat A COE will fall back to $25,000 is rather small.
Miss the chance to enjoy big savings when COE for Cat A fell to $25,000? Not to worry! Despite the increase in COE prices, Cars & Stars selling price remains! Head down to our showroom at 50 Ubi Ave 3 #01-01/02 to view the full collection of our cars today!