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In the second Certificate of Entitlement bidding round for October, premiums climbed across the board, with Cat B COE jumping up $14,144.
19 Oct 2022 | Local News : Singapore
| CAT | Premium | Change | Quota | No. of bids |
| A | $81,089 | ▲ $588 | 559 | 714 |
| B | $110,000 | ▲ $14,144 | 470 | 848 |
| C | $70,201 | ▲ $4,210 | 91 | 297 |
| E | $108,003 | ▲ $3,002 | 164 | 285 |
In the second round of bidding for October, Certificate of Entitlement (COE) premiums climbed across all categories, with Cat B COE scaling a total of $14,144.
The recently announced drop in COE quota for the upcoming quarter may have compelled more car buyers to make their purchases this week. This could also explain the rise in the total number of bidders for both Cat B and Cat E this session compared to the last.
Get data on past COE bidding exercises at our COE bidding results page.
Cat A COE - Rising by 0.7%
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, saw only a $588 (0.7%) rise this session, settling at $81,089.This new climb means premiums for the category now standing at 17.2% above the 12-month trailing average. This price is now at the 74th percentile of prices across the last 12 months.
The total number of bids submitted this session exceeded the number of unsuccessful bids this round by 28%, lower than the 12-month average of 43% for the category.
Cat B COE - Climbing an impressive $110,000
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, climbed by a sizable $14,144 (14.8%) this session, settling at $110,000.This jump sees premiums for the category now standing at 16.1% above the 12-month trailing average. This price is now at the 88th percentile of prices across the last 12 months.
The total number of unsuccessful bids this round exceed the quota available by 80%, far higher than the 12-month average figure for this category of 41%.
Cat C COE - Also climbing upwards
Premiums for Cat C, for goods vehicles and buses, also climbed this session, rising by $4,210 (6.4%), to close at $70,201.
The number of unsuccessful bids this round exceeded the available quota by 226%, higher than the 12-month average for this category of 131%.
Cat E COE - Climbing up $3,002
Cat E, the open category, took a sizable climb this session, rising by $3,002 (2.9%), to bring the premium for the category to $108,003.This new climb means current premiums for the category are now at 11% above the 12-month trailing average.
The number of unsuccessful bids this round exceeded the available quota by 76%. The 12-month average for this figure for the category is 60%.
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 | $82,465 (Oct) $83,247 (Nov) |
| B | $109,643 (Oct) $107,652 (Nov) |
| C | $59,344 (Oct) $63,894 (Nov) |
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