COE prices dip slightly in second August bidding

In the second round of bidding in August, all Certificate of Entitlement (COE) premiums fell slightly, with Cat B recording the biggest drop.

Premiums for Cat A, for cars up to 1,600cc in engine capacity and with an output of no more than 130bhp, fell by $1,801 (5.32%) and ended at $31,997.

Premiums for Cat B, larger cars with more than 130bhp or engine displacements larger than 1,600cc, dropped by $1,952 (5.67%) and ended at $32,429.

In Cat E, the open category, premiums went down by $1,109 (3.31%), with premiums closing at $32,311.

The decrease in COE premiums isn't too surprising, as many car buyers have probably already rushed to make their purchases when premiums made a significant dip in the first round of July's bidding. As such, demand has dropped slightly, which has probably caused another round of buyers waiting for premiums to dip again.