COE premiums continue to fall across the board

In the second COE bidding exercise for June, COE premiums for all car categories decreased once more, with premiums reaching their lowest point this year for Cat A, B and E. 


Premiums for Cat B, larger cars with more than 130bhp or engine displacements larger than 1,600cc, went down by $2,100 (5.8 percent) and ended at $33,900.

In Cat E, the open category, premiums went down by $2,600 (seven percent), with premiums closing at $34,400.

The drop in COE premiums indicate suppressed buying sentiment for car buyers at the moment. This can be attributed to the large number of unhired Uber cars that hit the used car market last month, many of which consist of Mazda3 sedans and Honda Vezels.

Additionally, buyers are likely waiting to see what impact the Vehicular Emissions Scheme will have on car prices. This is because after 1^st July, one additional pollutant - particulate matter - will be assessed as well, which may push some cars into different bandings, thus affecting their prices.