COE prices lower across all categories in latest tender
Certificate of entitlement (COE) prices ended lower in all categories in the latest tender yesterday.
The premium for Category A, or cars up to 1,600cc and 130bhp, slipped to $26,999, from $30,009 previously.
Similarly, the premium for Category B, or cars above 1,600cc and 130bhp, fell to $35,906 from $39,728.
Open COE, which can be used for any vehicle, but is mainly used for larger cars, ended at $39,400, down from $42,002, dipping below $40,000 for the first time since March.
The Category C premium, for goods vehicles and buses, dropped by $1, to $25,501.
The COE premium for motorcycles is at its lowest since January, with the Category D price closing at $3,000, down from $3,090.
Across all categories, a total of 5,490 bids were received, with a quota of 4,248 COEs available.
Mr Raymond Tang, 53, managing director of Yong Lee Seng Motor, told The New Paper that the school holidays could have contributed to the drop.
He said: "People have left the country, so there may be less buying strength. The whole COE system is in an adjustment period."