COE news: No let up in rising prices
As expected, COE prices hit skywards once again after the first bidding exercise for April ended today.
The biggest increase was in Cat B for big cars, where the premium jumped $9,412 to $45,501. The COE for small cars meanwhile rose $5,612 to $34,001.
In the Open Category, where the COEs can be used for any vehicle type, the premium climbed $6,999 to $49,000.
Thinking of buying a commercial vehicle instead to avoid the high passenger car COEs? No chance of much savings eother - COEs for commercial vehicles rose S3,621 to $36,511.
The recent wave of increments show no signs of waning yet according to industry experts. Car traders are having as hard a time as those needing to buy a car - those who have promised buyers guaranteed for their earlier orders face topping up millions of dollars for more expensive COEs for these buyers. This might have an adverse effect on the car industry as a whole when cost cutting measures and job losses may come into effect to cover the losses.
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