COE Results Oct 2023 2nd Bidding: Climbing across the board

The second round of bidding for October continued to see Certificate of Entitlement (COE) premiums climbing across all private car categories. This session saw premiums for Cat B now climbing past the $150,000 mark, after premiums for Cat E first broke this barrier last session.

The higher premiums this session could be due to raised car buying interest following the conclusion of The Car Expo exhibition.

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

Cat A COE - Bouncing back stronger after last session's dip

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 by a total of $2,000 (1.9%) this session to reach $106,000, reversing the slip that happened last session following the announcement of a one-time increase to available supply for October 2023.

This new climb takes premiums for the category to 13.3% above the 12-month trailing average. This session continued to see an elevated total number of bids submitted. The total number of number of bids exceeded the number of successful bids this round by 29%, lower than the 12-month average of 38% for the category.

Cat B COE - Now also over the $150,000 mark

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 $3,999 (2.7%) this session, to reach a total of $150,001.

This climb takes premiums for the category to 26.7% above the 12-month trailing average. The total number of unsuccessful bids this round exceeded the quota available by 32%, lower than the 12-month average figure for this category of 44%.

Cat C COE - Easing by $1,110

Premiums for Cat C, for goods vehicles and buses, slipped this session by $1,110 (1.3%) to close at $84,790. The number of unsuccessful bids this round exceeded the available quota by 63%, lower than the 12-month average for this category of 105%.

Cat E COE - The strongest climber

Premiums in Cat E, the open category, saw the largest climb this session, with premiums rising by $6,004 (4%). The new rise brings the current premium for the category to $158,004.

This increase brings current premiums for the category to 30.8% above the 12-month trailing average. The number of unsuccessful bids this round exceeded the available quota by 63%. The 12-month average for this figure for the category is now 90%.

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