COE Results Dec 2023 2nd Bidding: Dropping across the board!

The second round of bidding for December saw Certificate of Entitlement (COE) premiums dropping across all categories. Categories B and E also saw a return to five-digit changes after the last bidding session saw relatively undramatic changes across all categories.

This recent slip could be attributed to car buyers delaying purchases of new vehicles as they anticipate more offers to be available when the Singapore Motor Show arrives in January 2024. This could also explain the drop in the total number of bids submitted this session compared to the last.

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

Cat A COE - A slight drop this session

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 $3,020 (3.4%), nearly perfectly undoing the $3,019 climb experienced in the last session. This new slip sees premiums for the category returning to $85,000. 

This new slip means premiums for the category are now 10.2% below the 12-month trailing average. The total number of number of bids submitted exceeded the number of successful bids this round by 27%, which is lower than the 12-month average of 37% for the category.

Cat B COE - Taking a $20,099 dive

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 sizeable dive this session. Premiums for the category slipped by a total of $20,099 (15.5%) this session, to reach $110,001.

This slip takes current premiums for the category to 9.6% below the 12-month trailing average. The total number of unsuccessful bids this round exceeded the quota available by 32%. This figure is higher than the 12-month average figure for this category of 44%.

Cat C COE - Also heading downwards

Premiums for Cat C, for goods vehicles and buses, slipped this session by $1,578 (2.2%) to close at $69,423. The number of unsuccessful bids this round exceeded the available quota by 87%, lower than the 12-month average for this category of 97%. This is the fifth consecutive session that has seen premiums for the category slip downwards.

Cat E COE - Dropping a sizeable $15,000

Premiums in Cat E, the open category, also took a significant hit this session, dropping by $15,000 (11.3%), taking the current premium for the category to $118,388.

This slip takes current premiums for the category to 5.3% below the 12-month trailing average. The total number of bids submitted this session for the category exceeded the available quota this session by 55%. This is significantly lower than the 12-month average figure for the category of 91%.

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.

✅ 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