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In the first round of bidding for January, Certificate of Entitlement (COE) prices fell across all car categories.
Shoppers may be delaying their purchases this holiday period in anticipation of new promotions over the Chinese New Year period.
Get data on past COE bidding exercises at our COE bidding results page.
Cat A COE - The end of a five-session climb
Premiums for Cat A, for cars up to 1,600cc in engine capacity and with an output of no more than 130bhp, slipped this session, bringing an end to a five-session consecutive climb.
A fall of $1,202 (2.0 per cent) sees premiums for the category reaching $57,599 this session.
This latest drop sees the current premium standing at 21.5 per cent above their 12-month trailing average. The number of unsuccessful bids this round exceeded the available quota by 40 per cent. The 12-month average of this figure has currently stands at 39 per cent for the category.
Cat B COE - $3,289 slip this session
Premiums for Cat B, for larger cars with more than 130bhp or engine displacements larger than 1,600cc, saw the largest slip this session, with premiums dropping by $3,289 (4.0 per cent) to end at $77,700.
This latest fall in premiums for the category brings the current price to 26.9 per cent above the 12-month trailing average. This price is at the 79th percentile of the prices of the last 12 months.
The total number of unsuccessful bids this round exceeded the quota available by 21 per cent, lower than the 12-month average for this category of 38 per cent.
Cat C COE- A $1,800 slip this session
Premiums for Cat C, for goods vehicles and buses, fell by $1,800 (4.1 per cent), closing at $42,200.
The number of unsuccessful bids this round exceeded the available quota by 120 per cent, far higher than the 12-month average for this category of 84 per cent.
Cat E COE - A small slip this session
Cat E, the open category, fell for the fourth consecutive time this session. Premiums for the category fell by $1,388 (1.7 per cent) to reach $82,501 this session.
This latest drop sees premiums for the category have now reaching 29.5 per cent above the 12-month trailing average. This price is at the 80th percentile of the prices of the last 12 months.
Prevailing Quota Premium
The Prevailing Quota Premium is the amount to be paid for COE renewal and is computed from the moving average of the previous three-months of COE prices. Those looking to renew the COE on their cars will thus have to pay the following prices for the respective months.
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This article was first published in sgCarMart.