In the second round of bidding for May, Certificate of Entitlement (COE) premiums slipped for Cat A and B, while premiums for Cat E continued to climb. Premiums for Cat A have dropped below the $100,000 mark, which they first surpassed in the second bidding round of April 2023.

The fall in premiums for Cat A and B is likely due to the raised supply announced in 8 May 2023. The quota available for this session for Cat A and B is 596 and 480 respectively, a sizable increase next to the 474 and 410 COE available for the respective categories last session.

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

Cat A COE - Dipping below $100,000

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, took a sizable slip this session, falling by a total of $9,001 (8.9%) to end at $92,000.

This slip means premiums for the category now stand at just 7.8% above the 12-month trailing average. The total number of bids submitted this session exceeded the number of successful bids this round by 57%, higher than the 12-month average of 52% for the category.

Cat B COE - Taking a $6,365 slip

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 took a sizable slip this session. Premiums for the category fell by a total of $6,365 (5.3%) this session to reach $113,034.

This slip sees premiums for the category now standing at just 3.3% above the 12-month trailing average.

The total number of unsuccessful bids this round exceed the quota available by 49%, higher than the 12-month average figure for this category of 40%.

Cat C COE - Climbing $1,912

Premiums for Cat C, for goods vehicles and buses, climbed this session by $1,921 (2.5%) to close at $77,501.

The number of unsuccessful bids this round exceeded the available quota by 106%, lower than the 12-month average for this category of 109%.

Cat E COE - Still climbing

Cat E, the open category, was the only private car category to climb this session. Premiums for the category grew by $998 (0.8%). This move has brought the current premium for the category to $125,000.

This climb means current premiums for the category are now at 12.8% above the 12-month trailing average.

The number of unsuccessful bids this round exceeded the available quota by 141%. The 12-month average for this figure for the category is 76%.

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.

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