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COE premiums rose across all car categories for the first bidding round of July - the first bidding session since circuit breaker measures were imposed.

08 Jul 2020 | Local News : Singapore

CAT Premium Change Quota No. of bids
A $33,520 ▲ $2,310 1,289 3,061
B $35,889 ▲ $5,877 1,291 3,160
C $24,502 ▲ $2,500 489 866
E $34,989 ▲ $2,489 444 937

In the first round of bidding for July - and the first bidding round since Certificate Of Entitlement (COE) bidding was suspended as part of the circuit breaker measures - COE prices rose across all categories.

The extensive offers given by local distributors over the course of the last two months could have contributed to the high demand for new cars despite the circuit breaker measures.

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

Cat A COE - A 7.4% jump in premiums against April

Premiums for Cat A, for cars up to 1,600cc in engine capacity and with an output of no more than 130bhp, increased by $2,310 (7.4%) and ended at $33,520 this bidding round.

The premium from this bidding round is 6.1% higher than the 12-month trailing average, and falls into the 82nd percentile of the premiums of the last 12 months.

The number of unsuccessful bids this round exceeded the available quota by 137%, this figure has averaged 40% for Cat A in the last 12 months.

Cat B COE - Premiums jump by $5,877 over April

Premiums for Cat B, for larger cars with more than 130bhp or engine displacements larger than 1,600cc, increased by $5,877 (19.6%) and ended at $35,559 this bidding round.

Despite the rise in the premium from this bidding round, the final Cat B premium is still 6.4% lower than the 12-month trailing average. The bidding performance for this round only reached the 24th percentile of the 12-month trailing average.

The total number of unsuccessful bids this round exceeded the quota available by 145%, far higher than the 12-month average of 31%.

Cat C COE - COE for commercial vehicles jumps $2,500

Premiums for Cat C, for goods vehicles and buses, increased by $2,500 (11.4%) and ended at $24,502. The premium from this bidding round is still 4.6% lower than the 12-month trailing average.

Cat E COE - Premiums increase by 7.6%

In Cat E, the open category, premiums increased by 7.6%, closing at $34,989. Despite the rise in the premium for Cat E, the premium for this bidding round is still 13.1% below the 12-month trailing average.

COE premiums for this category hit a record low in the last two bidding round when compared against the last 12 months. 

The number of unsuccessful bids this round exceeded the available quota by 111%, which is higher than the 12-month trailing average of 55%.

*The 12-month trailing average only takes into consideration the months wherein there was active COE bidding.

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.

Category Prevailing Quota Premium
A $32,875 (July)
B $33,568 (July)
C $24,271 (July)

If you're looking for a fuss-free option to renew your car's COE, sgCarMart provides free COE renewal service which includes advice, 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 1.88% 
✅ 100% PQP Financing 
✅ Settlement of entire COE renewal paperwork

Click here to learn more about our COE renewal service!

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