In the first COE bidding exercise for December, COE premiums for Cat A, B and E see an all-time low since June.
Premiums for Cat A, for cars up to 1,600cc in engine capacity and with an output of no more than 130bhp, went down by $2,951 (5.8 percent) to end the bidding tender at $48,000.
Premiums for Cat B, larger cars with more than 130bhp or engine displacements larger than 1,600cc, went down by $6,772 (12.8 percent) and ended at $46,229.
In Cat E, the open category, prices also dropped by $4,891 (8.9 percent), with premiums closing at $50,010.
As expected, COE prices are dropping even further towards the end of the year. This is likely because of buyers holding out for the upcoming Singapore Motor Show 2017, happening from 12th to 15th January 2017, where a slew of new cars will be launched. Additionally, prospective car buyers may also be waiting for Christmas to score some festive deals.
