COE Results Dec 2023 1st Bidding: Cat B and E slip!

The first round of bidding for December saw Certificate of Entitlement (COE) premiums for Cat A climbing, while those for Cat B and E slipped. This is the first bidding session that did not see major five-figure changes to COE premiums across any category after the tumultuous bidding sessions of November 2023.

These changes in premiums could be due to an increase of interest in Cat A COE vehicles over those of the other COE categories amongst new car buyers in the past weeks, as premiums for the category have slipped from $106,000 in late October to $85,001 in late November. Premiums for Cat B and E, in contrast, were quicker to bounce back from the major slip in the first session of November 2023. This could also explain the sharper drop in the total number of bids submitted for category B against category A when comparing this session against the last.

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

Cat A COE - The first climb after two dramatic dips

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 by a total of $3,019 (3.6%) this session after the two dramatic dives across November 2023. This new climb sees premiums settling at $88,020. 

This new climb means premiums for the category are now 7.0% below the 12-month trailing average. The total number of number of bids submitted exceeded the number of successful bids this round by 33%, which is lower than the 12-month average of 37% for the category.

Cat B COE - Taking a small dip

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, took a small dip this session. Premiums for the category slipped by a total of $5,236 (3.9%) this session, to reach $130,100.

This slip takes current premiums for the category to 7.8% above the 12-month trailing average. The total number of unsuccessful bids this round exceeded the quota available by 46%. This figure is higher than the 12-month average figure for this category of 41%.

Cat C COE - Dropping by $2,888

Premiums for Cat C, for goods vehicles and buses, slipped this session by $2,888 (3.9%) to close at $71,001. The number of unsuccessful bids this round exceeded the available quota by 79%, lower than the 12-month average for this category of 97%. This is the fourth consecutive session that has seen premiums for the category slip downwards.

Cat E COE - Slipping by $1,614

Premiums in Cat E, the open category, slipped this session by $1,614 (1.2%), taking the current premium for the category to $133,388.

This slip takes current premiums for the category to 7.5% above the 12-month trailing average. The total number of bids submitted this session for the category exceeded the available quota this session by 98%. The 12-month average for this figure for the category is currently 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.

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.

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