In the second COE bidding exercise for April, COE premiums see a slight decrease for Cat A, a $1 increase for Cat B and a slight increase for Cat E.

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 $400 (0.77 percent) to end the bidding tender at $51,600.

Premiums for Cat B, larger cars with more than 130bhp or engine displacements larger than 1,600cc, went up by $1 (0.002 percent) and ended at $54,406.

In Cat E, the open category, prices also rose, by $60 (0.11 percent), with premiums closing at $54,616.

Stabilising COE prices for April's second tender are likely caused by a decrease in 'panic buying', which may have contributed to the rise in COE prices over the past few months. Another factor could be the increase in COE quota to 31,708 for the May-July period, which led to a slash in prices for commercial vehicles.