COE prices for Category A (Cars 1600cc and below, and taxis) have fallen to $2 in the latest round of COE bidding. Surely a sign of the economic gloom ahead. Prices in all categories have fallen. The biggest drop, of course was for Category A which fell from $10,445 to just $2, with just one more bid received than quota the available. Still does not beat the $1 record though, but close enough.
Category B and Category E prices also fell sharply, from $8,301 to $4,889 and from $10,490 to $6,889 respectively. Category C prices fell from $8,889 to $6,189. Category D fell from $1,509 to $1,012.
Incidentally, this $2 is the record low for Category A. The $1 price record set previously was for Category C.
I wonder where the prices will be headed in the coming months. Is it good time to look for cars now?