COE premiums rise across all categories for the second bidding round of August

CAT	Premium	Change	Quota	No. of bids
A	$35,710	▲ $2,710	1,034	2,099
B	$38,802	▲ $1,700	923	1,727
C	$25,006	▲ $906	357	586
E	$38,110	▲ $1,608	474	764

In the second round of bidding for August, COE prices rose across all categories.

This marks the second bidding round that has seen COE premiums across all categories rise. Although only Cat A saw an increase in the number of bids received this round compared to the last bidding session, COE premiums still ended higher for all categories, suggesting that bidders were willing to bid for premiums at higher prices during this bidding session. This could have been prompted by the recent news of the extension of the LTA's 0% vehicle growth rate until 2022.

Cat A COE - Premiums now at a 12-month high

Premiums for Cat A, for cars up to 1,600cc in engine capacity and with an output of no more than 130bhp, increased by $2,701 (8.2%) and ended at $35,710 this bidding round.

The premium from this bidding round has now risen to 13.1% higher than the 12-month trailing average, pushing it into the highest level it has been in the last 12-months. The last bidding session that saw premiums for Car A rise nearly as high was in January 2020, when they reached their former peak of $35,320.

The number of unsuccessful bids this round exceeded the available quota by 103%, this figure has averaged 49% for Cat A in the last 12 months.

Cat B COE - Premiums climb $1,700 despite a drop in bids received

Premiums for Cat B, for larger cars with more than 130bhp or engine displacements larger than 1,600cc, took a jump this bidding round, by $1,700 (4.6%) and ended at $38,802 this bidding round.

This jump in premiums for Cat B has moved the current premium to 4.7% higher than the 12-month trailing average. The premium for this round is now at the 65^th percentile of the 12-month trailing average.

The total number of unsuccessful bids this round exceeded the quota available by 87%, which is still higher than the 12-month average of 41%.

Cat C COE

Premiums for Cat C, for goods vehicles and buses, increased by $906 (3.8%) and ended at $25,006. The premium from this bidding round is now only 0.1% lower than the 12-month trailing average.

Cat E COE - Premiums rise $1,608

In Cat E, the open category, premiums increased by $1,608 (4.4%), closing at $38,110. With the current rise in premiums for Cat E, the premium for this bidding round now stands at only 0.5% below the 12-month trailing average and is at the 48^th percentile of the premiums of the last 12 months.

The number of unsuccessful bids this round exceeded the available quota by 61%, which is only slightly higher than the 12-month trailing average of 58%.

*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	$32,190 (August)
B	$32,914 (August)
C	$24,102 (August)

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