COEs go up across the board in February's Second Bidding Exercise

This month’s second bidding exercise was delayed due to the budget being planned for 2017. In short, current CEVs scheme which were introduced in 2013, will be replaced by a new scheme by the beginning of next year. Diesel cars though, were affected as early as 20 February this week, with a usage-based leaning levy imposed on them. This afternoon saw 4,504 successful bids out of a total of 6,854 received during the month’s second bidding exercise for Certificates of Entitlement (COEs).