COE Results August 2023 2nd Bidding: Still climbing upwards

In the second round of bidding for August, Certificate of Entitlement (COE) premiums climbed across all categories. Premiums for Cat A have now reached the $100,000 mark, while Cat B and Cat E continued to climb, breaking the already record highs they both reached the last session.

The host of roadshows conducted over the month of August and through the National Day holiday may have spurred interest in new car purchases this session.

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

Cat A COE - Now at $100,000

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, rose by a total of $501 (0.5%) to hit $100,000. Premiums for the category are now close to the $103,721 record hit in April 2023, before the LTA announced a one-time increase to the COE supply.

This new climb takes premiums for the category to 10.5% above the 12-month trailing average. The total number of bids submitted this session exceeded the number of successful bids this round by 43%, higher than the 12-month average of 39% for the category.

Cat B COE - Scaling to new highs

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 despite already reaching a record high in the last. Premiums for the category climbed by a total of $3,001 (2.4%) this session to reach $129,890.

This climb takes premiums for the category to 14.7% above the 12-month trailing average. The total number of unsuccessful bids this round exceeded the quota available by 53%, higher than the 12-month average figure for this category of 41%.

Cat C COE - Also climbing upwards

Premiums for Cat C, for goods vehicles and buses, climbed this session by $701 (0.9%) to close at $82,801. The number of unsuccessful bids this round exceeded the available quota by 58%, lower than the 12-month average for this category of 113%.

Cat E COE - Climbing by $7,000

Premiums in Cat E, the open category, rose a total of $4,799 (3.8%) this session. The new rise brings the current premium for the category to $131,000. As with Category B, premiums for this category are now at a record high.

This increase brings current premiums for the category to 13.4% above the 12-month trailing average. The number of unsuccessful bids this round exceeded the available quota by 81%. The 12-month average for this figure for the category is now 86%.

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.

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.

✅ 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