COE Results Mar 2024 1st Bidding: Cat A climbs $6,199!
06 Mar 2024|645 views
CAT | Premium | Change | Quota | No. of bids |
A | $83,000 | ▲ $6,199 | 963 | 1,866 |
B | $96,010 | ▼ $990 |
708 | 1,073 |
C | $75,599 | ▲ $2,598 | 200 | 303 |
E | $95,010 | ▲ $1,004 | 159 | 282 |
The first round of bidding for March saw Certificate of Entitlement (COE) premiums climbing across all categories save for Cat B. Premiums for Cat A saw the most significant change this session, climbing by a total of $6,199 to reach $83,000.
The jump in the premium for Cat A could be attributed to the introduction of the popular Hyundai Avante Hybrid here, alongside the host of Cat A friendly models including the BMW X2 and Lexus LBX that were launched at the 2024 Singapore Motor Show. The total number of bids received for each session in the category has stayed above the 1,800 mark since the second bidding session of January 2024, significantly higher than the last months of 2023. This has happened even as the number of bids for category E have stayed relatively steady since November 2023, while the total bids received for Cat B has been trending downwards since reaching a high of 1,308 in the second bidding session of January 2024.
Get data on past COE bidding exercises at our COE bidding results page.
Cat A COE - Bouncing back from last session's slip
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, saw the most significant change this session, rising by a total of $6,199 (8.1%) to reach $83,000.
Despite this new climb, the current premium for the category still stands at 10.8% below the 12-month trailing average. The total number of number of bids submitted exceeded the number of successful bids this round by 94%, significantly higher than the 12-month average of 40% for the category.
Cat B COE - Taking a third consecutive slip
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, slipped this session. Premiums for the category fell by a total of $990 (1.0%) this session to settle at $96,010.
This slip takes current premiums for the category to 20.3% below the 12-month trailing average. The total number of unsuccessful bids this round exceeded the quota available by 52%. This is slightly higher than the 12-month average figure for the category of 48%.
Cat C COE - Climbing up $2,598
Premiums for Cat C, for goods vehicles and buses, climbed this session by $2,598 (3.6%) to close at $75,599. The number of unsuccessful bids this round exceeded the available quota by 52%, lower than the 12-month average for this category of 85%.
Cat E COE - Taking a $1,004 climb
Premiums in Cat E, the open category, also mirrored Cat B by only climbing a small amount this session. Premiums for the category climbed by a total of $1,004 (1.1%) this session to reach at $95,010.
Despite this climb, current premiums for the category are still 23.5% below the 12-month trailing average. The total number of unsuccessful bids this round exceeded the quota available by 77%. This is slightly lower than the 12-month average figure for the category of 89%.
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 | $79,237 (Mar) |
B | $106,075 (Mar) |
C | $70,171 (Mar) |
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 | $83,000 | ▲ $6,199 | 963 | 1,866 |
B | $96,010 | ▼ $990 |
708 | 1,073 |
C | $75,599 | ▲ $2,598 | 200 | 303 |
E | $95,010 | ▲ $1,004 | 159 | 282 |
The first round of bidding for March saw Certificate of Entitlement (COE) premiums climbing across all categories save for Cat B. Premiums for Cat A saw the most significant change this session, climbing by a total of $6,199 to reach $83,000.
The jump in the premium for Cat A could be attributed to the introduction of the popular Hyundai Avante Hybrid here, alongside the host of Cat A friendly models including the BMW X2 and Lexus LBX that were launched at the 2024 Singapore Motor Show. The total number of bids received for each session in the category has stayed above the 1,800 mark since the second bidding session of January 2024, significantly higher than the last months of 2023. This has happened even as the number of bids for category E have stayed relatively steady since November 2023, while the total bids received for Cat B has been trending downwards since reaching a high of 1,308 in the second bidding session of January 2024.
Get data on past COE bidding exercises at our COE bidding results page.
Cat A COE - Bouncing back from last session's slip
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, saw the most significant change this session, rising by a total of $6,199 (8.1%) to reach $83,000.
Despite this new climb, the current premium for the category still stands at 10.8% below the 12-month trailing average. The total number of number of bids submitted exceeded the number of successful bids this round by 94%, significantly higher than the 12-month average of 40% for the category.
Cat B COE - Taking a third consecutive slip
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, slipped this session. Premiums for the category fell by a total of $990 (1.0%) this session to settle at $96,010.
This slip takes current premiums for the category to 20.3% below the 12-month trailing average. The total number of unsuccessful bids this round exceeded the quota available by 52%. This is slightly higher than the 12-month average figure for the category of 48%.
Cat C COE - Climbing up $2,598
Premiums for Cat C, for goods vehicles and buses, climbed this session by $2,598 (3.6%) to close at $75,599. The number of unsuccessful bids this round exceeded the available quota by 52%, lower than the 12-month average for this category of 85%.
Cat E COE - Taking a $1,004 climb
Premiums in Cat E, the open category, also mirrored Cat B by only climbing a small amount this session. Premiums for the category climbed by a total of $1,004 (1.1%) this session to reach at $95,010.
Despite this climb, current premiums for the category are still 23.5% below the 12-month trailing average. The total number of unsuccessful bids this round exceeded the quota available by 77%. This is slightly lower than the 12-month average figure for the category of 89%.
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 | $79,237 (Mar) |
B | $106,075 (Mar) |
C | $70,171 (Mar) |
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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