In the first COE bidding exercise for June, COE premiums see a further decrease for Cat A, Cat B and 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 $1,288 (2.77 percent) to end the bidding tender at $45,201.

Premiums for Cat B, larger cars with more than 130bhp or engine displacements larger than 1,600cc, went down by $2,891 (5.45 percent) and ended at $50,110.

In Cat E, the open category, prices also fell by $1,474 (2.83 percent), with premiums closing at $50,526.

The continued drop in COE prices since the last tender could be due to the fact that there have not been any new car launches recently. However, with the new Honda Civic Hatchback and Subaru XV expected to arrive soon, it would not be a surprise if premiums start to increase in the next couple of months.