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Certificate of entitlement (COE) premiums in Category A – for smaller and less powerful cars and electric vehicles (EVs) – experienced the biggest drop across all categories in the latest tender on 4 June.

Category A premiums fell from $102,501 to $96,999 which is a drop of around 5.4%.

“I think the Cat A premium drop is due to the market correction, as well as the last COE bidding where Cat A dropped a bit, so people may think, wait and see whether it’ll drop further,” said Anthony Teo, managing director of Vantage Automotive, in an interview with Motorist.

Vantage Automotive retails BYD and Denza in Singapore.

There was also a drop in Category B – for larger and more powerful cars and EVs – as premiums went down 3.4% from $116,988 to $113,000.

Category C – for commercial vehicles – saw a minor drop from $63,189 to $62,000 while premiums for Category E – an open category – settled at $113,900 after dropping 3.5% from $118,010 previously.

Premiums for Category D, which is for motorcycles, rose $293 to $9,000.