Certificate Of Entitlement (COE) premiums continue to climb across the board, with many of the post-Chinese New Year buyers who are still without COEs ending up empty-handed again. There were a total of 3,941 Category A and B COEs available in the second round of bidding for March, for which 6,592 bids were received.

COE prices for cars below 1600cc (Category A) increased by 7 per cent to $13,504. Some owners could now be further tempted to top up what they have paid to dealers as more than 2,000 bids were unsuccessful in this category. A total of 4,752 bids were received for only 2,669 COEs available.

Category B COE prices for larger cars (1600cc and above) also rose by a substantial 8.5 per cent to 14,652.

And with 9 per cent fewer COEs to be released in the coming year, plus the impending Goods & Services Tax (GST) hike, more anxious would-be car owners could be joining the fray.

Category C COE prices finally rose from their $1 rock-bottom levels for the first time in six rounds of bidding. Demand outstripped supply as 1,022 bids were received for 835 available COEs, resulting in a $1,091 pricing.

Category D COE prices for motorcycles also increased marginally from $964 to $1,001.

Category E COEs, which can be used for any type of vehicle, jumped by close to 10 per cent to $14,502.