Big car premiums led the decline.
Certificate of Entitlement (COE) premiums declined for all categories in the first bidding exercise for February, led by a sharp drop in Category B premiums.
COE premiums for Cat B cars—or vehicles larger than 1600 cc—dropped to $38,601 in the latest bidding round, down 23% from $50,089 in the second bidding exercise for January.
Premiums for Cat A cars, or those smaller than 1600cc, fell to $46,651 from $51,301 in the previous bidding exercise.
Premiums for goods vehicles and buses dropped to $45,036, down by $1,466. Motorcycle premiums stayed fairly flat at $6,503, compared to $6,512 in the previous round.
COE premiums in the open category fell to $44,001 from $51,000 previously.
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