1st COE Bidding results are out for the month of November. Both CAT B (1,600CC & above) & CAT E (Open) remains stable at $56,206 and $56,000 respectively.
Premiums for CAT A (1,600CC & below) closed at $52,668, an increase of $1,677 despite receiving 138 lower number of bids compared to the previous bidding in October.
The increase of premiums for CAT A is likely due to the lower number of quota. The number of quota was only 1,929 compared to 2,064 in previous bidding. In our previous article in October, we mentioned that Land Transport Authority (LTA) will be issuing fewer COEs from November 2016 to January 2017 and this might increase the premiums slightly for all categories.
The recent victory of Donald Trump as president of the United States is causing the global markets to cause uncertainty. We feel that many Singaporeans will hold on their car purchases, hence lesser bids received in the next bidding. Cars & Stars has come out with attractive promotions for our customers to purchase their cars in anticipate of lower COE premiums, so be sure to check out our latest car and loan promotions.