COE Results May 2024 2nd Bidding: Cat B and E still climb
23 May 2024|920 views
CAT | Premium | Change | Quota | No. of bids |
A | $92,700 | ▼ $904 | 983 | 1,444 |
B | $105,689 | ▲ $687 |
658 | 1,099 |
C | $72,001 | ▲ $2,000 | 207 | 382 |
E | $105,002 | ▲ $313 | 178 | 295 |
The second round of bidding for May saw Certificate of Entitlement (COE) premiums continuing to rise for categories B and E, while premiums for category A took a slight dip.
Although premiums for categories B and E rose this session, this bidding round also saw the total number of bids received dropping across all private car categories compared to the last bidding session. This was despite the arrival of a Cat A-eligible Tesla Model 3 and a host of roadshows held by BYD and Toyota, which should have spurred interest in new car purchases.
Cat A COE - Taking a slight hit
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, dipped this session by $904 (0.9%) to reach $92,700. The total number of bids received for the category this session was 1,444, significantly lower than the 1,632 bids received last session.
The current premium now stands at just 1.4% above the 12-month trailing average. The total number of number of bids submitted exceeded the number of successful bids this round by 47%, lower than the 12-month average of 54% for the category.
Cat B COE - Still climbing a little
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, continued to climb this session. Premiums for the category climbed by $687 (0.7%) to reach $105,689. The total supply of bids received for the category this session dropped to 1,099 compared to the 1,237 bids received in the last session. This is the fourth consecutive bidding session that has seen premiums for the category climbing upward.
This climb takes current premiums for the category to 9.5% below the 12-month trailing average. The total number of unsuccessful bids this round exceeded the quota available by 67%. This is higher than the 12-month average figure for the category of 54%.
Cat C COE - Climbing by $2,000
Premiums for Cat C, for goods vehicles and buses, climbed this session by $2,000 (2.9%) to close at $72,001. The number of unsuccessful bids this round exceeded the available quota by 85%, just slightly lower than the 12-month average for this category of 79%.
Cat E COE - A $313 climb
Premiums in Cat E, the open category, also climbed this session, rising by a total of $313 (0.3%) to reach $105,002.
Despite this climb, current premiums for the category are still 12.6% below the 12-month trailing average. The total number of unsuccessful bids this round exceeded the quota available by 66%. This is lower than the 12-month average figure for the category of 85%.
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 | $84,550 (May) |
B | $99,116 (May) |
C | $71,120 (May) |
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 | $92,700 | ▼ $904 | 983 | 1,444 |
B | $105,689 | ▲ $687 |
658 | 1,099 |
C | $72,001 | ▲ $2,000 | 207 | 382 |
E | $105,002 | ▲ $313 | 178 | 295 |
The second round of bidding for May saw Certificate of Entitlement (COE) premiums continuing to rise for categories B and E, while premiums for category A took a slight dip.
Although premiums for categories B and E rose this session, this bidding round also saw the total number of bids received dropping across all private car categories compared to the last bidding session. This was despite the arrival of a Cat A-eligible Tesla Model 3 and a host of roadshows held by BYD and Toyota, which should have spurred interest in new car purchases.
Cat A COE - Taking a slight hit
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, dipped this session by $904 (0.9%) to reach $92,700. The total number of bids received for the category this session was 1,444, significantly lower than the 1,632 bids received last session.
The current premium now stands at just 1.4% above the 12-month trailing average. The total number of number of bids submitted exceeded the number of successful bids this round by 47%, lower than the 12-month average of 54% for the category.
Cat B COE - Still climbing a little
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, continued to climb this session. Premiums for the category climbed by $687 (0.7%) to reach $105,689. The total supply of bids received for the category this session dropped to 1,099 compared to the 1,237 bids received in the last session. This is the fourth consecutive bidding session that has seen premiums for the category climbing upward.
This climb takes current premiums for the category to 9.5% below the 12-month trailing average. The total number of unsuccessful bids this round exceeded the quota available by 67%. This is higher than the 12-month average figure for the category of 54%.
Cat C COE - Climbing by $2,000
Premiums for Cat C, for goods vehicles and buses, climbed this session by $2,000 (2.9%) to close at $72,001. The number of unsuccessful bids this round exceeded the available quota by 85%, just slightly lower than the 12-month average for this category of 79%.
Cat E COE - A $313 climb
Premiums in Cat E, the open category, also climbed this session, rising by a total of $313 (0.3%) to reach $105,002.
Despite this climb, current premiums for the category are still 12.6% below the 12-month trailing average. The total number of unsuccessful bids this round exceeded the quota available by 66%. This is lower than the 12-month average figure for the category of 85%.
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 | $84,550 (May) |
B | $99,116 (May) |
C | $71,120 (May) |
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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