COE climbs across the board; Cat B and E COE now close to $120,000 mark

CAT	Premium	Change	Quota	No. of bids
A	$96,501	▲  $2,998	515	749
B	$118,501	▲  $2,300	430	566
C	$76,801	▼  $8,588	47	103
E	$118,990	▲  $2,970	134	252

In the first round of bidding for April, Certificate of Entitlement (COE) premiums climbed across all private car categories. Premiums for Cat C, meanwhile, took a dive, dropping by $8,588 this session.

The launch of discounts for new cars ahead of the 2023 Cars@Expo by some of the dealers here may explain this new increase in premiums across the private car categories.

Get data on past COE bidding exercises at our COE bidding results page.


Cat A COE - Climbing closer to the $100,000 mark

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 a total of $2,998 (3.2%) to end at $96,501.

This jump puts the current premium at a new high even after last session's record, with premiums for this category only reaching $90,589 in November of 2022, and $92,100 in January of 2013.

This climb means premiums for the category now stand at 18.2% above the 12-month trailing average. The total number of bids submitted this session exceeded the number of unsuccessful bids this round by 45%, higher than the 12-month average of 36% for the category.


Cat B COE - Taking a $2,300 jump

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 climbed this session. Premiums for the category rose by a total of $2,300 (2.0%) this session, to reach $118,501.

This jump sees premiums for the category now standing at 11.6% above the 12-month trailing average.

The total number of unsuccessful bids this round exceed the quota available by 32%, now lower than the 12-month average figure for this category of 40%.


Cat C COE - An $8,588 nosedive

Premiums for Cat C, for goods vehicles and buses, slipped this session by $8,588 (10.1%) to close at $76,801.

The number of unsuccessful bids this round exceeded the available quota by 119%, higher than the 12-month average for this category of 111%.


Cat E COE - Also climbing upwards

Cat E, the open category, also climbed this session after stying nearly stagnant in the last session. Premiums for the category rose by $2,970 (2.6%). This move has brought the current premium for the category to $118,990.

This new climb means current premiums for the category are now at 10.2% above the 12-month trailing average.

The number of unsuccessful bids this round exceeded the available quota by 88%. The 12-month average for this figure for the category is 71%.


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	$86,677 (Apr)
B	$109,948 (Apr)
C	$83,969 (Apr)

If you're looking for a fuss-free option to renew your car's COE, Sgcarmart provides free COE renewal advice, which includes loan sourcing and all paperwork.

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