The most recent COE results have been made public, and they include some fascinating information for Singapore's automobile purchasers. The findings are inconsistent across the categories, with some experiencing a turnover compared to last COE result.
The COE price for Category A (vehicles under 1600cc and 97kW) rose marginally from $92,000 to $98,001, an increase of $6,001. Nevertheless, COE costs for Category B (vehicles above 1600cc or 97kW) also increased by $7,668 from $113,034 to $120,702.
Also, the COE price for Category C (goods vehicles and buses) kept rising by $4,300, increasing from $77,501 to $81,801. Last but not least, COE costs for Category E (except motorcycles) have decreased a lot, from $125,000 to $120,889, a drop of $4,111.
The strong demand for cars in Singapore, as evidenced by the recent surge in COE prices, is a testament to the value and importance of car ownership in the society. Many believed that owning a car is still a worthwhile investment.
Overall, the most recent COE results demonstrate that Singapore's auto industry is still unstable, with prices varying according to supply and demand. The most recent COE results should be closely monitored by prospective car purchasers, and they should be ready to change their expectations and budget appropriately.
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