The Straits Times file
In Cat A, which is reserved for cars with internal combustion engine that are less than 1.6-litres in capacity and output of less than 130hp, and electric cars with an output of less than 147hp, prices went down by $2,086 to end at $88,503. Category E meanwhile, which is open to all vehicles except motorcycles, but usually ends up being used for big cars, saw a drop of $3,485 to end at $110,524, which is an all-time high for COE premiums in the history of the system.In theory, the end of the year should see a flurry of activity, as brands rush to meet their year end sales targets, and customers look to secure their new rides before the year is out.
Instead, what we’ve been seeing is COE prices reaching new record highs, which can be baffling and hard to reconcile with what brands and their salespeople are seeing on the ground. After all, if nobody is buying cars, then where is the demand coming from?