Category A COE premiums for cars with engine displacement of up to 1,600cc, and containing no more than 130bhp, reduced by $2,841 to end at $62,000 today - a difference of 4.4 percent from the last session.
The small car category saw the largest change today and it seems demand for small cars are gradually declining after a series of short hikes which started back in July - coinciding with the then recent launches of the ever popular Toyota Corolla Altis or the Honda City.
COE prices for this category have been fluctuating around the $60k and $70k ranges since May and the lower prices recorded could be due to many potential buyers taking a more conservative approach considering The Straits Times projected COE quotas to rise in the final quarter between November to January.
Category B COE premiums - for cars with engine capacities above 1,600cc or 130bhp - followed suit with a dip in premium prices. Premiums under this category ended at $71,990 - a difference of $1,020 or a percentage difference of 1.4 percent from the last exercise a fortnight ago.
The Open Category COE premiums or commonly known as Category E was the sole category to buck the trend and closed slightly higher today $74,801 - a 0.5 percent increase amounting to $398 - from the amount recorded during the 1st September exercise at $74,403.
Besides, the local auto industry has in fact generally been quiet the past couple of weeks with no major 'bread and butter' car launches which could have contributed to a quieter bidding exercise today.
