COE Results Nov 2023 2nd Bidding: Cat B and E climb upwards!

The second round of bidding for November saw Certificate of Entitlement (COE) premiums for Cat A and C falling, while those for Cat B and E rose - just as we had expected in our study of past major COE dips here. Premiums for Cat B climbed by a total of $25,335 this session, after last session's $40,000 drop.

The rise in premiums for Cat B and E could also have been motivated by the various offers the local dealers were offering since the last bidding session in hopes of capitalising on renewed new car buying interest following the dramatic drop in COE premiums. This new car buying interest can be seen from the larger than 40% increases in bids received in both categories B and E compared to the last session. 

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

Cat A COE - Taking another five-digit fall

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 by a total of $10,688 (11.2%) this session to reach $85,001. Premiums for the category have not been this low since the start of the year.

This second slips means premiums for the category are now 10.5% below the 12-month trailing average. A larger number of bids were submitted for the category this session compared to the last, so the total number of number of bids submitted exceeded the number of successful bids this round by 40%, which is higher than the 12-month average of 37% for the category.

Cat B COE - Climbing back after last session's slip

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, climbed this session. Premiums for the category climbed by a total of $25,335 (23.0%) this session, to reach $135,336. This sizeable climb comes after last session's dramatic $40,000 slip.

This increase takes premiums for the category to 13% above the 12-month trailing average. The total number of unsuccessful bids this round exceeded the quota available by a whopping 90% owing to the sizeable increase in total bids submitted. This figure is higher than the 12-month average figure for this category of 41%.

Cat C COE - Taking another downward hit

Premiums for Cat C, for goods vehicles and buses, slipped this session by $4,112 (5.3%) to close at $73,889. The number of unsuccessful bids this round exceeded the available quota by 94%, lower than the 12-month average for this category of 96%.

Cat E COE - Climbing up by $9,991

Premiums in Cat E, the open category, climbed this session by $9,991 (8.0%), taking the current premium for the category to $135,002. This climb comes after last session's dramatic $32,993 slip in premiums for the category. 

This climb takes current premiums for the category back to 9.5% above the 12-month trailing average. As with Cat B, the significant climb in the total number of bids submitted this session for the category sees the number of unsuccessful bids this round exceeding the available quota by 114%. The 12-month average for this figure for the category is currently 88%.

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