COE premiums for first December bidding drop across the board

In the first COE bidding exercise for December, COE premiums see a drop in all categories, with Cat A seeing the most significant change.

Premiums for Cat A, for cars up to 1,600cc in engine capacity and with an output of no more than 130bhp, decreased by $4,452 (9.5 percent) and ended at $42,339.

Premiums for Cat B, larger cars with more than 130bhp or engine displacements larger than 1,600cc, went down by $3,679 (6.4 percent) and ended at $53,711.

In Cat E, the open category, prices also fell by $3,167 (5.5 percent), with premiums closing at $54,334.

Following the last tender, which saw no significant change in COE prices, this round's premiums see a substantial drop. The drop is not unexpected, seeing as many vehicle buyers have already made their purchases prior to Cars@Expo, which could be the reason why prices are on a steady decline.