Local News: COE prices breach the $20k mark
It seems that car buyers are coming back to the showrooms in droves judging by the latest COE bidding results that ended today.
In anticipation of lower COE quotas in the coming months and fantastic offers from car dealers in previous week running attractive Chinese New Year promos, COE premiums have reached a record high in recent memory.
Cat A COE premiums increased to $20,501 from $18,502 while Cat B prices went even higher to $22,400, up a significant 16.7 percent since the last round. Needless to say, open cat COEs saw a corresponding rise to $21,899 from $18,899.
Dealers are expected to increase prices of their cars after this significant rise in prices of COE premiums.
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