Thu Sep 05 00:57:39 UTC 2024: – COE prices rose in all five categories at the latest tender exercise on Sept 4, with the highest premium for smaller, less powerful cars at $96,490, the highest in 2024
– Category A premium rose by 2.8% from the previous exercise to $96,490
– Category B premium increased by 0.4% to $106,300
– Open category (Category E) premium rose by 0.8% to $106,901
– Motorcycle (Category D) premium rose by 5.3%
– Commercial vehicle (Category C) premium rose by 2.2%, marking the fifth consecutive increase
– Factors such as recent car launches, promotional events by brands like BMW and Mercedes-Benz, upcoming Car Expo in October, and a three-week gap between COE tender exercises contributed to higher bids and prices
– Chinese EV brand BYD influenced results, with 520 cars registered in July, mostly Category A COE EVs
– Key models such as the new Camry and Freed hybrid expected to sell well
– Dealers are securing COEs in advance for orders, with expectations of continued rise in COE premiums in upcoming exercises due to factors like the three-week gap between tenders and The Car Expo event in October
– Overall, the market expects prices to remain high in the next COE exercise

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