COE Results Oct 2023 1st Bidding: Cat E breaches $150,000

The first round of bidding for October continued to see Certificate of Entitlement (COE) premiums climbing for Cat B and E, with premiums for the latter now past the $150,000 mark. Premiums for larger cars may have climbed thanks to the launch of the popular BMW 5 Series here in Singapore.

Premiums for Cat A, meanwhile, fell only by $1,000 despite the increase in available quota announced in late September 2023. The announced increase in quotas available for the category may have prompted more to secure their purchases in the past week, which would explain the sharp rise in total bids submitted.

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

Cat A COE - A small drop following an injection of quotas

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, finally slipped for the first time since July of 2023. Premiums for the category dropped by $1,000 (0.9%) this session to hit $104,000. This price is currently at the 92^nd percentile of the premiums of the last 12 months.

This new slip takes premiums for the category to 12.4% above the 12-month trailing average. Despite the rise in the total number of bids submitted this session compared to the last, the raised available quota means that the total number of bids submitted this session exceeded the number of successful bids this round by 32%, lower than the 12-month average of 38% for the category.

Cat B COE - Climbing a strong $5,113

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, continued to climbed this session. Premiums for the category climbed by a total of $5,113 (3.6%) this session, to reach a total of $146,002.

This climb takes premiums for the category to 25.6% above the 12-month trailing average. The total number of unsuccessful bids this round exceeded the quota available by 36%, lower than the 12-month average figure for this category of 44%.

Cat C - Also climbing upwards

Premiums for Cat C, for goods vehicles and buses, climbed this session by $2,099 (2.5%) to close at $85,900. The number of unsuccessful bids this round exceeded the available quota by 68%, lower than the 12-month average for this category of 105%.

Cat E - Climbing above the $150,000 mark

Premiums in Cat E, the open category, rose a total of $7,360 (5.1%) this session. The new rise brings the current premium for the category to $152,200.

This increase brings current premiums for the category to 27.9% above the 12-month trailing average. The number of unsuccessful bids this round exceeded the available quota by 86%. The 12-month average for this figure for the category is now 87%.

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 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