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COE prices fall across the board for last bidding exercise in 2014

17 Dec 2014|5,553 views

The final COE bidding session for 2014 saw premiums across all categories taking the plunge, with the largest drop from the Open category.

The last COE bidding exercise for 2014 ended with lower premium prices across the board.

As COE quotas are expected to rise next year, car buyers may be adopting a more conservative approach for now

At the end of the day, COE premiums for cars up to 1,600cc and no more than 130bhp took a 1.86 percent dive after premiums fell from $67,089 two weeks ago to $65,889 - a difference of $1,200.

On the other hand, Cat B premiums closed at $74,000, $389 lower than two weeks ago at $74,389 - a slight drop of 0.52 percent.

The Open Category, or Category E, took the deepest dive of 3.79 percent in today's exercise and finished off at $73,990 - ending $2,914 lower - compared to the previous exercise when premiums were priced at $76,904.

As evident from the bidding results, it seems like demand for new cars is taking a slight reprieve after it stayed strong throughout the last few COE bidding exercises. However, experts in the industry predict that COE premiums will not drop significantly despite the increase in quota for the quarter between November 2014 to January 2015.

The last COE bidding exercise for 2014 ended with lower premium prices across the board.

At the end of the day, COE premiums for cars up to 1,600cc and no more than 130bhp took a 1.86 percent dive after premiums fell from $67,089 two weeks ago to $65,889 - a difference of $1,200.

On the other hand, Cat B premiums closed at $74,000, $389 lower than two weeks ago at $74,389 - a slight drop of 0.52 percent.

The Open Category, or Category E, took the deepest dive of 3.79 percent in today's exercise and finished off at $73,990 - ending $2,914 lower - compared to the previous exercise when premiums were priced at $76,904.

As evident from the bidding results, it seems like demand for new cars is taking a slight reprieve after it stayed strong throughout the last few COE bidding exercises. However, experts in the industry predict that COE premiums will not drop significantly despite the increase in quota for the quarter between November 2014 to January 2015.