In the second Certificate of Entitlement bidding round for October, Cat A premiums fell while Cat B and E premiums rose.
In the second round of bidding in October, Certificate of Entitlement (COE) prices for Cat A decreased, while Cat B and E premiums rose.
In the second round of bidding for October, Cat B and E premiums rose, while Cat A premiums fell Premiums for Cat A, for cars up to 1,600cc in engine capacity and with an output of no more than 130bhp, decreased by $1,692 (5.2%) and ended at $32,309.
Premiums for Cat B, larger cars with more than 130bhp or engine displacements larger than 1,600cc, rose by $444 (1.1%) and ended at $41,805.
In Cat E, the open category, premiums went up by $1,019 (2.5%), with premiums closing at $42,020.
This bidding round saw fewer bids across all car categories, a continued indication of low buying sentiment among buyers. The recent conclusion of the [email protected] event, which happened on the first week of October, was the likely cause of the spike in Cat A bids in the previous round. The drop in Cat A premiums is thus expected, with bids falling from 1,659 last round to 1,467 this round.