The first Certificate of Entitlement (COE) bidding exercise for January 2023 saw premiums fall across the board for all categories, with Categories A and B seeing the biggest drops. In Cat A, which is reserved for cars with internal combustion engine (ICE) that are less than 1.6-litres in capacity and output of less than 130hp, and electric cars with an...
COE premiums dipped pretty significantly in Categories A and B in the first bidding exercise of 2023, but here's why you shouldn't use it as a barometer for the rest of the year.The first Certificate of Entitlement bidding exercise for January 2023 saw premiums fall across the board for all categories, withIn Cat A, which is reserved for cars with internal combustion engine that are less than 1.
Category E meanwhile, which is open to all vehicles except motorcycles, but usually ends up being used for big cars, saw a far smaller dip of $1,711 to end at $107,889. Just as a reference point, a year ago, the premiums for Cat A went from $58,801 in late December 2021 to $57,599 in January 2022. If anything, it's probably just a temporary blip, attributed to the holiday season as mentioned above. And chances are, premiums are expected to spike up again in the next exercise, given that there's the looming return of the Singapore Motorshow on Jan 12 to 15, with many brands anticipating demand to pick up subsequently.
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