What goes up must come down! Last month we saw the highest COE premiums of 2016, partly due to MAS easing car loan rules and companies like Uber stockpiling on COEs like they're made of cash. This month, premiums have fallen across the board for the first tender. Take a look!
The premiums for Cat A, cars up to 1,600cc and 130bhp, took the biggest dip of 5.5%, followed by the open category with a drop of 2.4%.
Why the drop? Mr Raymond Tang, first vice-president of Singapore Vehicle Traders Association (SVTA), speculates that some are holding back due to Brexit, while it could be also be partly due to the relatively fewer bids in the three categories.