COE Results August 2024 1st Bidding: Up across the board!
07 Aug 2024|766 views
CAT | Premium | Change | Quota | No. of bids |
A | $94,289 | ▲ $2,390 | 1,013 | 1,570 |
B | $106,101 | ▲ $6,101 |
663 | 1,150 |
C | $71,100 | ▲ $499 | 218 | 312 |
E | $105,239 | ▲ $4,898 | 178 | 322 |
Look at the table and figure for yourself which way premiums have headed this session: The week is set to see more than just flags pointed towards the sky.
It looks as if consumers have been waiting for an opportune week to secure their new car purchases for some time. The first COE bidding session that sees an increase in COE supply for this quarter has seen a swell of bids coming in: The total number of bids received for Cat A and Cat B this session is the highest since May of 2024, and premiums have followed suit - the premiums for category A is now at the highest level we have seen in 2024, with premiums for categories B and E also coming close to hitting new records for the year. The recent launches of popular models here including the Honda HR-V and Skoda Kodiaq, on top of the launch of the made-in-Singapore Ioniq 6 and the launch of the new MINI range could have contributed to the rise in premiums witnessed this session.
Get data on past COE bidding exercises at our COE bidding results page.
Cat A COE - A $2,390 jump this session
Premiums for Cat A, for cars up to 1,600cc in engine capacity and with an output of no more than 130bhp or electric vehicles with a power output of up to 110kW, climbed upwards this session by $2,390 (2.6%) to reach a total of $94,289.
The current premium now stands at 4.2% above the 12-month trailing average. The total number of number of bids submitted exceeded the number of successful bids this round by 55%, on the mark against the 12-month average of 55% for the category.
Cat B COE - Climbing $6,101 this session
Premiums for Cat B, for larger cars with more than 130bhp or engine displacements larger than 1,600cc or electric vehicles with a power output of more than 110kW, took a more significant climb this session. This session saw premiums for the category rise by $6,101 (6.1%) to reach $106,101.
This climb means current premiums for the category are now just 6.4% below the 12-month trailing average. The total number of unsuccessful bids this round exceeded the quota available by 73%. This is significantly higher than the 12-month average figure for the category of 56%.
Cat C COE - Also climbing steadily
Premiums for Cat C, for goods vehicles and buses, also climbed this session by $499 (0.7%) to close at $71,100. The number of unsuccessful bids this round exceeded the available quota by 43%, significantly lower than the 12-month average for this category of 69%.
Cat E COE - Also heading upwards
Premiums for Cat E, the open category, also climbed this session, rising by a total of $4,898 (4.9%) to reach $105,239.
Current premiums for the category are now just 9.1% below the 12-month trailing average. The total number of unsuccessful bids this round exceeded the quota available by 81%. This is lower than the 12-month average figure for the category of 78%.
Prevailing Quota Premium
The Prevailing Quota Premium is the amount to be paid for COE renewal and is computed from the moving average of the previous three-months of COE prices. Those looking to renew the COE on their cars will thus have to pay the following prices for the respective months.
Category | Prevailing Quota Premium |
A | $91,383 (Aug) |
B | $102,423 (Aug) |
C | $70,516 (Aug) |
If you're looking for a fuss-free option to renew your car's COE, Sgcarmart Connect provides free COE renewal advice, which includes loan sourcing and all paperwork.
✅ Advice and tips on COE renewal
✅ Complimentary Pre-COE Car Inspection
✅ COE renewal loan quote comparisons
✅ Interest Rate typically starts from 2.88%
✅ 100% PQP Financing
✅ Settlement of entire COE renewal paperwork
CAT | Premium | Change | Quota | No. of bids |
A | $94,289 | ▲ $2,390 | 1,013 | 1,570 |
B | $106,101 | ▲ $6,101 |
663 | 1,150 |
C | $71,100 | ▲ $499 | 218 | 312 |
E | $105,239 | ▲ $4,898 | 178 | 322 |
Look at the table and figure for yourself which way premiums have headed this session: The week is set to see more than just flags pointed towards the sky.
It looks as if consumers have been waiting for an opportune week to secure their new car purchases for some time. The first COE bidding session that sees an increase in COE supply for this quarter has seen a swell of bids coming in: The total number of bids received for Cat A and Cat B this session is the highest since May of 2024, and premiums have followed suit - the premiums for category A is now at the highest level we have seen in 2024, with premiums for categories B and E also coming close to hitting new records for the year. The recent launches of popular models here including the Honda HR-V and Skoda Kodiaq, on top of the launch of the made-in-Singapore Ioniq 6 and the launch of the new MINI range could have contributed to the rise in premiums witnessed this session.
Get data on past COE bidding exercises at our COE bidding results page.
Cat A COE - A $2,390 jump this session
Premiums for Cat A, for cars up to 1,600cc in engine capacity and with an output of no more than 130bhp or electric vehicles with a power output of up to 110kW, climbed upwards this session by $2,390 (2.6%) to reach a total of $94,289.
The current premium now stands at 4.2% above the 12-month trailing average. The total number of number of bids submitted exceeded the number of successful bids this round by 55%, on the mark against the 12-month average of 55% for the category.
Cat B COE - Climbing $6,101 this session
Premiums for Cat B, for larger cars with more than 130bhp or engine displacements larger than 1,600cc or electric vehicles with a power output of more than 110kW, took a more significant climb this session. This session saw premiums for the category rise by $6,101 (6.1%) to reach $106,101.
This climb means current premiums for the category are now just 6.4% below the 12-month trailing average. The total number of unsuccessful bids this round exceeded the quota available by 73%. This is significantly higher than the 12-month average figure for the category of 56%.
Cat C COE - Also climbing steadily
Premiums for Cat C, for goods vehicles and buses, also climbed this session by $499 (0.7%) to close at $71,100. The number of unsuccessful bids this round exceeded the available quota by 43%, significantly lower than the 12-month average for this category of 69%.
Cat E COE - Also heading upwards
Premiums for Cat E, the open category, also climbed this session, rising by a total of $4,898 (4.9%) to reach $105,239.
Current premiums for the category are now just 9.1% below the 12-month trailing average. The total number of unsuccessful bids this round exceeded the quota available by 81%. This is lower than the 12-month average figure for the category of 78%.
Prevailing Quota Premium
The Prevailing Quota Premium is the amount to be paid for COE renewal and is computed from the moving average of the previous three-months of COE prices. Those looking to renew the COE on their cars will thus have to pay the following prices for the respective months.
Category | Prevailing Quota Premium |
A | $91,383 (Aug) |
B | $102,423 (Aug) |
C | $70,516 (Aug) |
If you're looking for a fuss-free option to renew your car's COE, Sgcarmart Connect provides free COE renewal advice, which includes loan sourcing and all paperwork.
✅ Advice and tips on COE renewal
✅ Complimentary Pre-COE Car Inspection
✅ COE renewal loan quote comparisons
✅ Interest Rate typically starts from 2.88%
✅ 100% PQP Financing
✅ Settlement of entire COE renewal paperwork
Latest COE Prices
September 2024 | 2nd BIDDING
NEXT TENDER: 09 Oct 2024
CAT A$98,524
CAT B$110,001
CAT C$74,000
CAT E$113,104
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