Results from the second Certificate of Entitlement (COE) all ended higher with the exception of larger premium cars.
In the second bidding exercise that ended Wednesday, May 21, prices for Cat. B cars above 1,600cc dipped slightly from $70,002 — in the previous exercise that ended May 7 — to $68,103.
Cat. A premiums for small cars up to 1,600cc, increased the most by at least 9.5 percent from $60,002 to $65,689.
We speculate that those who have budgeted for a small car have deemed the price of the COE for this category appropriate and have thus decided to buy thereby inducing a demand-led bidding war.
Cat. C, which includes trucks, buses, lorries went up from $36,301 to $40,889. This category doesn’t usually experience wild swings primarily because it is contingent upon business requirements.
The COE of motorcycles just went up slightly from $4,003 as compared to $4,001 in the first round.
Finally, premium for vehicles in the open category increased from $65,501 to $67,290.
Photo: AFP
