For the first round of bidding in June, Certificate of Entitlement (COE) prices have ended mostly lower, with Cat A recording an increase.

Premiums for Cat A, for cars up to 1,600cc in engine capacity and with an output of no more than 130bhp, increased by $3,009 (11.14%) and ended at $30,009.

Premiums for Cat B, larger cars with more than 130bhp or engine displacements larger than 1,600cc, fell by $2,836 (6.66%) and ended at $39,728.

In Cat E, the open category, premiums went down by $4,998 (10.63%), with premiums closing at $42,002.

Car dealers have noted that new car sales have slumped, while COE revalidations are on the rise. The slump in the demand for new cars may continue, due to fears of the growing U.S.-China trade war.