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In the first round of bidding for December, Certificate of Entitlement (COE) prices rose for Cat A and Cat B, while those for Cat E fell.
The sustained rise in premiums for Cat A COE may be due to the recent launch of the popular Honda Civic. Premiums for the category have not reached these highs since November of 2015.
Get data on past COE bidding exercises at our COE bidding results page.
Cat A COE - A $2,009 climb
Premiums for Cat A, for cars up to 1,600cc in engine capacity and with an output of no more than 130bhp, climbed by another $2,009 (3.7 per cent) this session to end $57,010. Premiums for this category have not been this high since November of 2015.
This fourth consecutive rise in premiums sees them reaching for the category sees premiums now standing at 24 per cent higher than the 12-month trailing average.
The number of unsuccessful bids this round exceeded the available quota by 44 per cent. This is higher than the 12-month average of 40 per cent for the category.
Cat B COE - Bouncing back from last month's drop
Premiums for Cat B, for larger cars with more than 130bhp or engine displacements larger than 1,600cc, climbed this session by $800 (1.0 per cent) to end at $80,401.
This latest climb sees premiums for the category recovering back to 37.6 per cent above the 12-month trailing average. This price is at the 92nd percentile of the prices of the last 12 months.
The total number of unsuccessful bids this round exceeded the quota available by 39 per cent, the 12-month average for this category stands at 40 per cent.
Cat C COE - A $1,498 climb this session
Premiums for Cat C, for goods vehicles and buses, rose by $1,498 (3.4 per cent), closing at $45,000.
The number of unsuccessful bids this round exceeded the available quota by 58 per cent, the 12-month average for this category stands at 84 per cent.
Cat E COE - The only category to slip this session
Cat E, the open category, continues last session's drop with another slip this session. Premiums for the category fell by $1,001 (1.2 per cent) to reach $85,000 this session.
This latest drop sees premiums for the category have now reaching 40.2 per cent above the 12-month trailing average. This price is at the 88th percentile of the prices of the last 12 months.
Prevailing Quota Premium
The Prevailing Quota Premium is the amount to be paid for COE renewal and is computed from the moving average of the previous three-months of COE prices. Those looking to renew the COE on their cars will thus have to pay the following prices for the respective months.
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This article was first published in sgCarMart.