The first batch of March COE prices rebounded after last month's record-low prices and shot up across almost all categories.

Cat A COE prices rose by two folds to $12,602, from last month's $5,200.

Not to be left behind, Cat B COE prices went up to $13,502, a jump of over 100% from $6,002.

The $1 trend for Cat C COE continued because goods vehicles, which have yet to meet stringent Euro-IV emission standards, are still scarce and not widely available.

Motorcycle COEs (Cat D) increased by just over $50 to $964.

COEs for the Open category (Cat E), which can be used to register all vehicles, finished at $13,201, which was over $2,000 more than last month's.

The increase in COE prices for March's 1st Open Bidding Exercise can be attributed to the low prices last month and the post Chinese New Year surge to buy new cars, as evident from the crowds which thronged motor showrooms duing the festive break.

Reflecting the renewed buying frenzy, the number of bids received for Cat A and B doubled the quota allocated. A total of 11,127 bids were received for the 6,395 COEs available.