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COE premiums fall for all cars
Vehicle certificate of entitlement (COE) premiums fell in the latest round of bidding across all car categories on Tuesday, as demand for cars failed to match the increase in quota.
COEs for Category A, or cars below 1,600 cc, tumbled the most, from S$62,002 to S$57,199. Category B COEs similarly fell to S$66,751, from S$70,890 two weeks ago.
The open category E, which can be used for any car type but is largely used for bigger cars, also went down, from S$71,921 to S$67,901.
"The market is having difficulty getting enough in to support the supply. Whether this will continue to pan out is a question mark," said Ron Lim, general manager of Tan Chong Motors.