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COE prices head upwards!

By BenCee on 24 Feb 2011

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In the latest bidding exercise on 23 February, COEs for all categories posted an increase, with an average of 16 per cent rise each for the main Cat A and Cat B categories.

This comes after two consecutive declines in COE prices for the previous two tenders.

I suppose the rise could be partly attributed to a lull in sentiments from the previous exercises, as buyers moved in upon seeing the prices falling.

Or it could be a number of other factors, as several new car sales representatives have been quoted as saying.

Among them include a fall in demand during the recent Chinese New Year festive period, a rebound after the further reduction in quota that was enforced in early February, or even a reaction to the recent Budget announcement where the Government handed out "goodies" to the people as a reward for the outstanding financial year just past.

Whatever it is, with the reduced quota in COEs now, it is getting harder to predict the movements of COE prices in the months ahead.

I think the managing director of Audi Singapore. Reinhold Carl, summed it up best when he said, "When premiums fall, buyers will come in, which will cause premiums to rise. And then, people will stop buying, causing premiums to fall."

The only thing that buyers can be sure of, however, is that the days of cheap COEs are definitely over.

coe prices and 4 more...

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BenCee
Written by BenCee
A petrolhead from young, Ben is living the dream, writing about cars...



  • 1
Vinceng Feb 24 2011 08:00 PM
It is a demand and supply issue.

Cat A COE will always remain high as taxi COE falls under this category too.
Otgekoo Mar 01 2011 05:27 PM
I feel that CAT A COE should not include taxi as taxi are consider commercial vehicle as compare to CAT A vehicle are private vehicles for non commercial use. Taxis should have their own category.

With the Taxis in this cat. ppl who want to buy a vehicle that falls in this cat will have a hard time getting a bid for the COE who some need to top up in order to get the COE. which is pretty unfair as compared to Taxis company using taxi to generate income.
  • 1
 
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