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SINGAPORE: The latest COE bidding results showed that COE prices for vehicles have fallen sharply across the board, except for motorcycles.
Car dealers said potential buyers are holding back because of the uncertain economy.
The biggest decline was in Category A (small cars), which dropped S$4,591 to S$11,009.
The COE price for Category B, or cars above 1600cc, is now S$15,889, down S$1,621.
For goods vehicles and buses, the COE went down S$2,262 to S$15,889, while for the Open Category, the COE fell S$1,951 to S$16,500.
Car dealers said business in car showrooms has been slow as rising oil and food prices are making people think twice before buying a car, so demand for smaller and cheaper cars has dropped the most.
But the COE price for motorcycles bucked the trend, rising S$137 to S$1,289. - CNA/ac
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