COE premiums for first December bidding drop across the board

In the first COE bidding exercise for December, COE premiums see a drop in all categories, with Cat A seeing the most significant change.

This round of bidding sees a substantial drop in COE premiums across all categories

Premiums for Cat A, for cars up to 1,600cc in engine capacity and with an output of no more than 130bhp, decreased by $4,452 (9.5 percent) and ended at $42,339.

Premiums for Cat B, larger cars with more than 130bhp or engine displacements larger than 1,600cc, went down by $3,679 (6.4 percent) and ended at $53,711.

In Cat E, the open category, prices also fell by $3,167 (5.5 percent), with premiums closing at $54,334.

Following the last tender, which saw no significant change in COE prices, this round's premiums see a substantial drop. The drop is not unexpected, seeing as many vehicle buyers have already made their purchases prior to Cars@Expo, which could be the reason why prices are on a steady decline.