COE July 1st Bidding Results

COE jumps higher across all categories 

There was an anticipation of a fall in COE due to COVID19 before bidding resumes for July. However, instead of a fall as anticipated, COE ended up higher across all 5 categories with Cat B (Car Above 1600 CC registering the highest increase at  $5877.

For those who were looking for a windfall would probably feel disappointed. Nonetheless, pend up demand over the past 2 months had pushed the bids near 2.5 times the quota for Cat A and B despite the quota increasing by 30%. Prior to this, the number of bids was at 1.5 times the amount of COE available.

With the pend up demand, COE should maintain this increase for the next bidding. Next bidding for COE will be on  22 July.