In the second round of bidding for February, Certificate of Entitlement (COE) premiums climbed across all categories. Premiums for Cat E in particular jumped a significant $12,999 this session.

The spike in COE premiums this session may be a result of the recent news of the raised Additional Registration Fee rates, which may have spurred new car buying interest in the past week. This could also explain the rise in bid received across all categories this session.

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

Cat A COE - Still holding steady

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, only saw a $556 (0.7%) jump this session to end at $86,556.

This climb means premiums for the category now standing at 9.6% above the 12-month trailing average. This price is now at the 63^rd 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 38%, lower than the 12-month average of 40% for the category.

Cat B COE - Bouncing back to $115,001

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 amount this session. Premiums for the category rose by $9,477 (9.0%) this session, to reach $115,001.

This jump sees premiums for the category now standing at 10.6% above the 12-month trailing average.

The total number of unsuccessful bids this round exceed the quota available by 76%, significantly higher than the 12-month average figure for this category of 40%, indicating an increase in demand for Cat B COEs this session.

Cat C COE - Reaching new highs

Premiums for Cat C, for goods vehicles and buses, also climbed this session, rising by $2,671 (3.1%) to close at $87,790.

The number of unsuccessful bids this round exceeded the available quota by 189%, higher than the 12-month average for this category of 113%.

Cat E COE - Also going strong

Cat E, the open category, made the greatest climb this session, rising by $12,999 (12.4%). This climb has brought the premium for the category to $118,011, beating the last record high of $116,557, reached in the first bidding session of November 2022.

This new climb means current premiums for the category are now at 11.8% above the 12-month trailing average.

The number of unsuccessful bids this round exceeded the available quota by 108%. The 12-month average for this figure for the category is 58%.

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 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