COE Results July 2024 2nd Bidding: Cat A rises; B and E fall

The first round of bidding for July saw Certificate of Entitlement (COE) premiums climbing for Cat A, while those for Cat B and E slipped. 

As with the first 1st round of bidding in July, interest in new car purchases seems to have stayed relatively constant this session, without four-figure movements across any of the categories we watch. 

Premiums for Cat A saw a nearly 1% increase compared to last session. Interestingly, the number of bids submitted this session was not only lower than the previous round's, but also marked the second lowest for the year. The 1,342 bids put in for the category is undercut only by the first bidding session in January, during which there were 1,184 bids.

Likewise, both Cat B and E saw slightly fewer bids being put in this time round (a decrease of a mere five and nine bids respectively), even as premiums for both slid.

Cat B was, however, the biggest mover this time round - and in the direction car buyers want to see - with premiums sliding by $901 to land right on the $100,000 line for this session. Still, this marks a gentler slide than the $1,433 decrease seen in the category for the first bidding session of July. 

As a whole, the total number of bids for categories A, E, and even C continue to stay close to the average of the figures we have witnessed within the past few months. 

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

Cat A COE - The only gainer this time round 

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 upwards yet again this session - and more steeply too, by $898 (a full 1%) to reach a total of $91,899.

The current premium now also stands at a higher 1.6% above the 12-month trailing average. The total number of number of bids submitted exceeded the number of successful bids this round by 38%, lower than the 12-month average of 55% for the category.

Cat B COE - This session's biggest mover (in the direction we want)

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, slipped this session. This session saw premiums for the category continue to fall, albeit more gently - by $901 (0.9%) - to reach $100,000 exactly.

The sustained slide brings current premiums for the category to 11.8% below the 12-month trailing average. The total number of unsuccessful bids this round exceeded the quota available by 35% - essentially the same proportion as before. Again, this is lower than the 12-month average figure for the category of 56%.

Cat C COE - A $600 climb this session

Premiums for Cat C, for goods vehicles and buses, climbed more steeply this session by $600 (0.9%) to close at $70,601. The number of unsuccessful bids this round exceeded the available quota by 66%. With the 12-month average for this category now standing at 69%, the gap between both figures appears to be closing yet again.

Cat E COE - A gentler slide 

On the other hand, premiums for Cat E, the open category, saw a gentle slide this session, falling by a total of $548 (0.5%) to reach $100,341.

Premiums for the category are now 13.3% below the 12-month trailing average. The total number of unsuccessful bids this round exceeded the quota available by 69%. This is, again, lower than the 12-month average figure for the category of 77%.

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