COE Results Feb 2024 1st Bidding: Down across the board!
CAT | Premium | Change | Quota | No. of bids |
A | $79,000 | ▼ $2,589 | 938 | 1,931 |
B | $102,338 | ▼ $9,662 |
655 | 1,163 |
C | $72,001 | ▲ $4,000 | 196 | 366 |
E | $100,101 | ▼ $8,903 | 163 | 305 |
The first round of bidding for February saw Certificate of Entitlement (COE) premiums falling across all private car categories after having made sizeable climbs last session following the conclusion of the Singapore Motor Show.
While the total number of bids submitted this session was noticeably higher when compared against the months of December 2023 and January 2024, premiums this session continued to remain lower than the previous two months (even after discounting the spike following the motor show). It is likely that while demand for new cars remains strong, the expectation of more COE supply still to arrive in the coming months could be encouraging potential buyers to wait and see where premiums are headed before committing to their purchases.
Get data on past COE bidding exercises at our COE bidding results page.
Cat A COE - Slipping by $2,589
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 $2,859 (3.2%) to reach $79,000. The 12-month trend for premiums in this category is still headed downwards, despite last session's remarkable $16,579 climb.
As a result of this new slip, premiums for the category are now 15.7% below the 12-month trailing average. The total number of number of bids submitted exceeded the number of successful bids this round by 109%, significantly higher than the 12-month average of 39% for the category.
Cat B COE - Taking this session's greatest 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, also slipped this session. Premiums for the category fell by a total of $9,662 (8.6%) this session to settle at $102,338.
This slip takes current premiums for the category to 15.7% below the 12-month trailing average. The total number of unsuccessful bids this round exceeded the quota available by 77%. As with Cat A, this figure is significantly higher than the 12-month average figure for this category of 44%, indicating that dealers here are still looking to secure COEs for unfulfilled orders.
Cat C COE - The only category to climb this session
Premiums for Cat C, for goods vehicles and buses, climbed this session by $4,000 (5.9%) to close at $72,001. The number of unsuccessful bids this round exceeded the available quota by 92%, on-par with the 12-month average for this category of 91%.
Cat E COE - Also taking a hit this session
Premiums in Cat E, the open category, also took a hit alongside the rest of the private car categories this session, falling by $8,903 (8.2%) to take finally reach $100,101.
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 118%. This is slightly higher 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) |
B | $113,742 (Feb) |
C | $71,319 (Feb) |
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 | $79,000 | ▼ $2,589 | 938 | 1,931 |
B | $102,338 | ▼ $9,662 |
655 | 1,163 |
C | $72,001 | ▲ $4,000 | 196 | 366 |
E | $100,101 | ▼ $8,903 | 163 | 305 |
The first round of bidding for February saw Certificate of Entitlement (COE) premiums falling across all private car categories after having made sizeable climbs last session following the conclusion of the Singapore Motor Show.
While the total number of bids submitted this session was noticeably higher when compared against the months of December 2023 and January 2024, premiums this session continued to remain lower than the previous two months (even after discounting the spike following the motor show). It is likely that while demand for new cars remains strong, the expectation of more COE supply still to arrive in the coming months could be encouraging potential buyers to wait and see where premiums are headed before committing to their purchases.
Get data on past COE bidding exercises at our COE bidding results page.
Cat A COE - Slipping by $2,589
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 $2,859 (3.2%) to reach $79,000. The 12-month trend for premiums in this category is still headed downwards, despite last session's remarkable $16,579 climb.
As a result of this new slip, premiums for the category are now 15.7% below the 12-month trailing average. The total number of number of bids submitted exceeded the number of successful bids this round by 109%, significantly higher than the 12-month average of 39% for the category.
Cat B COE - Taking this session's greatest 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, also slipped this session. Premiums for the category fell by a total of $9,662 (8.6%) this session to settle at $102,338.
This slip takes current premiums for the category to 15.7% below the 12-month trailing average. The total number of unsuccessful bids this round exceeded the quota available by 77%. As with Cat A, this figure is significantly higher than the 12-month average figure for this category of 44%, indicating that dealers here are still looking to secure COEs for unfulfilled orders.
Cat C COE - The only category to climb this session
Premiums for Cat C, for goods vehicles and buses, climbed this session by $4,000 (5.9%) to close at $72,001. The number of unsuccessful bids this round exceeded the available quota by 92%, on-par with the 12-month average for this category of 91%.
Cat E COE - Also taking a hit this session
Premiums in Cat E, the open category, also took a hit alongside the rest of the private car categories this session, falling by $8,903 (8.2%) to take finally reach $100,101.
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 118%. This is slightly higher 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) |
B | $113,742 (Feb) |
C | $71,319 (Feb) |
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