In the first COE bidding exercise for October, COE premiums see an decrease for Cat A, B and E.

Premiums for Cat A, for cars up to 1,600cc in engine capacity and with an output of no more than 130bhp, decreased by $1,141 (2.7 percent) and ended at $41,761.

Premiums for Cat B, larger cars with more than 130bhp or engine displacements larger than 1,600cc, went down by $1,080 (2.2 percent) and ended at $48,109.

In Cat E, the open category, prices also drop by $12 (2.1 percent), with premiums closing at $49,000.

Despite the sudden influx of vehicle buyers rushing to purchase Cat A cars two biddings ago, COE premium fell. This could mean that the rise in COE prices in the last bidding has discouraged buyers from making any purchases. With less sales in the last two weeks, dealers are also thought to be in less of a rush to fufill orders, resulting in the drop.