COE analysis October 1st round

Today is the first round of COE bidding with the increase of quota. As I predicted, this time round, both Cat A and B dropped by more than $1k which is my conservative estimation. Cat A down $1,101 to $12,001. Cat B down $1,898 to $12,501. However. I feel this is still not low enough. I predict next round it should slide some more as I feel that it has no basis to rise. So I think the question is not if it will drop but how much it will slide. This will indicate what the current demand for cars is.