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Cat A COE prices record the sharpest drop after latest bidding exercise

23 Oct 2013|7,613 views

Premiums for COE tender exercise fell across all categories although demand for big cars stay strong as Cat E premiums continue to hover over the $90,000 mark.

Demand for large cars stay strong while premiums for Cat A have fallen after 12 successive hikes

After 12 successive bidding sessions, Category A COE premiums - for cars with engine displacement up to 1,600cc - finally headed south at the end of the 2^nd bidding exercise for October. Premiums that slowly climbed with momentum until it hit $85,000 two weeks ago were valued at $76,889 after the end of the exercise today.

The difference marked a 9.5 percent drop - the largest in today's session - which amounted to $8,111.

Category B premiums, which have been finishing close to Category E, ended the exercise at $87,910 - $5,590 lower than two weeks ago - close to six percent drop in premiums.

Demand for Category E, however, remained strong with prices continuing to hover above the $90,000 mark. It ended the bidding tender at $92,289 - a miniscule 1.7 percent drop.

Amidst all the rush for car shopping before the new COE banding takes place next February, premiums across all categories recorded a drop in prices. There has been a widespread concern for COE trends after the announcements - especially business owners, who claimed that rising COE prices add woes to their running costs.

After 12 successive bidding sessions, Category A COE premiums - for cars with engine displacement up to 1,600cc - finally headed south at the end of the 2^nd bidding exercise for October. Premiums that slowly climbed with momentum until it hit $85,000 two weeks ago were valued at $76,889 after the end of the exercise today.

The difference marked a 9.5 percent drop - the largest in today's session - which amounted to $8,111.

Category B premiums, which have been finishing close to Category E, ended the exercise at $87,910 - $5,590 lower than two weeks ago - close to six percent drop in premiums.

Demand for Category E, however, remained strong with prices continuing to hover above the $90,000 mark. It ended the bidding tender at $92,289 - a miniscule 1.7 percent drop.