COE Results Feb 2024 2nd Bidding: Still heading downwards!
21 Feb 2024|763 views
CAT | Premium | Change | Quota | No. of bids |
A | $76,801 | ▼ $2,199 | 937 | 1,909 |
B | $97,000 | ▼ $5,338 |
649 | 1,034 |
C | $73,001 | ▲ $1,000 | 199 | 374 |
E | $94,006 | ▼ $6,095 | 158 | 271 |
The second round of bidding for February saw Certificate of Entitlement (COE) premiums falling across all private car categories. This slip comes after premiums also fell across all private car categories in the previous bidding session. Premiums for Cat E have now slipped back below the $100,000 mark for the first time since May of 2022.
The lower premiums witnessed this session may be the result of weaker new car demand following the conclusion of the Lunar New Year holidays. This weaker demand for new cars could also explain the reduction in the number of bids received across all private vehicle categories this session compared to the last.
Get data on past COE bidding exercises at our COE bidding results page.
Cat A COE - Dropping by $2,199
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, slipped this session by $2,199 (2.8%) to reach $76,801.
This second consecutive slip has brought the current premium for the category to 17.8% below the 12-month trailing average. The total number of number of bids submitted exceeded the number of successful bids this round by 104%, significantly higher than the 12-month average of 40% for the category.
Cat B COE - Not as dramatic a fall compared to the last 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, also slipped this session. Premiums for the category fell by a total of $5,338 (5.2%) this session, finally settling at $97,000.
This slip takes current premiums for the category to 20% below the 12-month trailing average. The total number of unsuccessful bids this round exceeded the quota available by 59%. This is slightly higher than the 12-month average figure for the category of 49%.
Cat C COE - Climbing slightly for the third consecutive session
Premiums for Cat C, for goods vehicles and buses, climbed this session by $1,000 (1.4%) to close at $73,001. The number of unsuccessful bids this round exceeded the available quota by 88%, on-par with the 12-month average for this category of 89%.
Cat E COE - Finally falling below the $100,000 mark
Premiums in Cat E, the open category, also took a hit alongside the rest of the private car categories this session. Premiums for the category fall be a total of $6,095 (6.1%) this session to take finally settle at $94,006.
Premiums for the category are now at the lowest that they have been in the last 12 months. The total number of bids submitted this session for the category exceeded the available quota this session by 72%. This is lower than the 12-month average figure for the category of 90%.
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 | $83,385 (Feb) $79,237 (Mar) |
B | $113,742 (Feb) $106,075 (Mar) |
C | $71,319 (Feb) $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 | $76,801 | ▼ $2,199 | 937 | 1,909 |
B | $97,000 | ▼ $5,338 |
649 | 1,034 |
C | $73,001 | ▲ $1,000 | 199 | 374 |
E | $94,006 | ▼ $6,095 | 158 | 271 |
The second round of bidding for February saw Certificate of Entitlement (COE) premiums falling across all private car categories. This slip comes after premiums also fell across all private car categories in the previous bidding session. Premiums for Cat E have now slipped back below the $100,000 mark for the first time since May of 2022.
The lower premiums witnessed this session may be the result of weaker new car demand following the conclusion of the Lunar New Year holidays. This weaker demand for new cars could also explain the reduction in the number of bids received across all private vehicle categories this session compared to the last.
Get data on past COE bidding exercises at our COE bidding results page.
Cat A COE - Dropping by $2,199
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, slipped this session by $2,199 (2.8%) to reach $76,801.
This second consecutive slip has brought the current premium for the category to 17.8% below the 12-month trailing average. The total number of number of bids submitted exceeded the number of successful bids this round by 104%, significantly higher than the 12-month average of 40% for the category.
Cat B COE - Not as dramatic a fall compared to the last 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, also slipped this session. Premiums for the category fell by a total of $5,338 (5.2%) this session, finally settling at $97,000.
This slip takes current premiums for the category to 20% below the 12-month trailing average. The total number of unsuccessful bids this round exceeded the quota available by 59%. This is slightly higher than the 12-month average figure for the category of 49%.
Cat C COE - Climbing slightly for the third consecutive session
Premiums for Cat C, for goods vehicles and buses, climbed this session by $1,000 (1.4%) to close at $73,001. The number of unsuccessful bids this round exceeded the available quota by 88%, on-par with the 12-month average for this category of 89%.
Cat E COE - Finally falling below the $100,000 mark
Premiums in Cat E, the open category, also took a hit alongside the rest of the private car categories this session. Premiums for the category fall be a total of $6,095 (6.1%) this session to take finally settle at $94,006.
Premiums for the category are now at the lowest that they have been in the last 12 months. The total number of bids submitted this session for the category exceeded the available quota this session by 72%. This is lower than the 12-month average figure for the category of 90%.
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 | $83,385 (Feb) $79,237 (Mar) |
B | $113,742 (Feb) $106,075 (Mar) |
C | $71,319 (Feb) $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
April 2024 | 2nd BIDDING
NEXT TENDER: 08 May 2024
CAT A$94,010
CAT B$102,001
CAT C$68,502
CAT E$103,249
View Full Results Thank You For Your Subscription.