In the second COE bidding exercise for June, COE premiums see a further decrease for Cat A, Cat B and Cat E, with Cat A prices plummeting to their lowest point since February 2016.

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 $2,400 (5.3 percent) to end the bidding tender at $42,801.

Premiums for Cat B, larger cars with more than 130bhp or engine displacements larger than 1,600cc, went down by $2,609 (5.2 percent) and ended at $47,501.

In Cat E, the open category, prices also fell by $2,525 (5.0 percent), with premiums closing at $48,001.

As expected, COE prices continue to drop across the board, following the last tender. This could be due to the lack of recent new car launches and the fact that car buyers may be holding out for several upcoming launches such as the turbocharged Toyota Harrier, the Audi Q5, the Subaru XV and the facelifted Volkswagen Golf.