COE Results November 2024 1st Bidding: Down across the board

The first round of bidding for November saw Certificate of Entitlement (COE) premiums continuing to ease across the board, with greater drops seen across all categories this session compared to the last.

The drop in premiums across the board is likely a product of the announced increase in COE supply for this quarter, as well as a weakened appetite to pay for higher premiums given the recently announced new injection of COEs set to start in February 2025.

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

Cat A COE - Slipping back below the $100,000 mark

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, took a hit this session, dropping by $3,011 (2.9%) to bring the premium for the category to $99,889. Premiums for the category climbed above the $100,000 mark in October this year.

The current premium now stands at 11.7% above the 12-month trailing average. The total number of number of bids submitted exceeded the number of successful bids this round by 29%, significantly lower than the 12-month average of 57% for the category.

Cat B COE - Taking a $5,889 hit

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, also dipped this session, dropping by $5,889 (5.1%) to settle at $108,001.

This slip means the current premium for the category is now just 1.7% above the 12-month trailing average. The total number of unsuccessful bids this round exceeded the quota available by 49%. This is lower than the 12-month average figure for the category of 55%.

Cat C COE - Also dipping downwards

Premiums for Cat C, for goods vehicles and buses, slipped this session by $4,599 (6.3%) to close at $68,340. The number of unsuccessful bids this round exceeded the available quota by 55%, lower than the 12-month average for this category of 66%.

Cat E COE - Still going down

Premiums for Cat E, the open category, slipped this session by a total of $5,700 (5.0%) to reach $109,000.

The current premium for the category is now just 1.0% above the 12-month trailing average. The total number of unsuccessful bids this round exceeded the quota available by 70%, just below the 12-month average figure for the category of 83%.

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