COE Results Sep 2023 1st Bidding: Climbing to new highs

In the first round of bidding for September, Certificate of Entitlement (COE) premiums continued climbed across all categories. Premiums for Cat A have now reached the $100,000 mark, while Cat B and Cat E continued to climb, breaking the already record highs they both reached the last session.

New car buying interest could have been kept strong through the past weeks following the launch of models including the ORA Good Cat 03 as well as the Hyundai Kona Hybrid here in Singapore.

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

Cat A COE - Up another $1,000 from last week

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, rose by a total of $1,000 (1.0%) to hit $101,000. Premiums for the category are now close to the $103,721 record hit in April 2023, before the LTA announced a one-time increase to the COE supply.

This new climb takes premiums for the category to 10.9% above the 12-month trailing average. The total number of bids submitted this session exceeded the number of successful bids this round by 30%, lower than the 12-month average of 38% for the category.

Cat B COE - Still climbing to new highs

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 continued to climb, despite already reaching a record high in the last. Premiums for the category climbed by a total of $4,999 (3.9%) this session, to reach a total of $134,889.

This climb takes premiums for the category to 18.4% above the 12-month trailing average. The total number of unsuccessful bids this round exceeded the quota available by 54%, higher than the 12-month average figure for this category of 42%.

Cat C COE - Climbing by $88

Premiums for Cat C, for goods vehicles and buses, climbed this session by $88 (0.1%) to close at $82,889. The number of unsuccessful bids this round exceeded the available quota by 58%, lower than the 12-month average for this category of 110%.

Cat E COE - Climbing a whopping $6,000

Premiums in Cat E, the open category, rose a total of $6,000 (4.6%) this session. The new rise brings the current premium for the category to $137,000. As with premiums for Category B, premiums for this category continue to remain at a record high.

This increase brings current premiums for the category to 13.4% above the 12-month trailing average. The number of unsuccessful bids this round exceeded the available quota by 68%. The 12-month average for this figure for the category is now 86%.

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 
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✅ Interest Rate typically starts from 2.88% 
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