COE Results May 2024 1st Bidding: Cat B and E climb up
08 May 2024|4,803 views
CAT | Premium | Change | Quota | No. of bids |
A | $93,604 | ▼ $406 | 968 | 1,632 |
B | $105,002 | ▲ $3,001 |
666 | 1,237 |
C | $70,001 | ▲ $1,499 | 206 | 350 |
E | $104,689 | ▲ $1,440 | 177 | 317 |
The first round of bidding for May saw Certificate of Entitlement (COE) premiums rising for categories B and E, while premiums for category A took a slight dip.
The higher premiums seen this session, despite the promise of greater COE supply in the pipeline this quarter, might seem to indicate a sustained interest in new car purchases. However, it is worth noting that the total number of bids submitted this session is not significantly greater than the last few bidding sessions, with Cat B being a sole exception. It is also worth noting that while the total COEs available for Cat A and E increased this session compared to the last, the total COEs available for Cat B was actually lower this round compared to the last. This supply change could also explain the respective changes in the premiums for Cat A and B.
Get data on past COE bidding exercises at our COE bidding results page.
Cat A COE - The only category to slip this session
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, dipped this session by $406 (0.4%) to reach $93,604, ending a four-session consecutive rise in premiums for the category. The available quota for this category rose to 968 compared to 936 in the last session.
The current premium now stands at just 2.0% above the 12-month trailing average. The total number of number of bids submitted exceeded the number of successful bids this round by 69%, higher than the 12-month average of 52% for the category.
Cat B COE - The only category to see a reduction in total supply this session
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, saw the greatest climb this session. Premiums for the category climbed by $3,001 (2.9%) to reach $105,002. The total supply of COEs available for the category this session dropped to 666 compared to the 690 COEs available in the last session.
This climb takes current premiums for the category to 10.5% below the 12-month trailing average. The total number of unsuccessful bids this round exceeded the quota available by 86%. This is higher than the 12-month average figure for the category of 52%.
Cat C COE - Climbing by $1,499
Premiums for Cat C, for goods vehicles and buses, climbed this session by $1,499 (2.2%) to close at $70,001. The number of unsuccessful bids this round exceeded the available quota by 70%, just slightly lower than the 12-month average for this category of 79%.
Cat E COE - A $1,440 climb
Premiums in Cat E, the open category, also climbed this session, rising by a total of $1,440 (1.4%) to reach $104,689.
Despite this climb, current premiums for the category are still 13.4% below the 12-month trailing average. The total number of unsuccessful bids this round exceeded the quota available by 79%. This is lower than the 12-month average figure for the category of 87%.
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 | $84,550 (May) |
B | $99,116 (May) |
C | $71,120 (May) |
If you're looking for a fuss-free option to renew your car's COE, Sgcarmart Connect provides free COE renewal advice, which includes 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 2.88%
✅ 100% PQP Financing
✅ Settlement of entire COE renewal paperwork
CAT | Premium | Change | Quota | No. of bids |
A | $93,604 | ▼ $406 | 968 | 1,632 |
B | $105,002 | ▲ $3,001 |
666 | 1,237 |
C | $70,001 | ▲ $1,499 | 206 | 350 |
E | $104,689 | ▲ $1,440 | 177 | 317 |
The first round of bidding for May saw Certificate of Entitlement (COE) premiums rising for categories B and E, while premiums for category A took a slight dip.
The higher premiums seen this session, despite the promise of greater COE supply in the pipeline this quarter, might seem to indicate a sustained interest in new car purchases. However, it is worth noting that the total number of bids submitted this session is not significantly greater than the last few bidding sessions, with Cat B being a sole exception. It is also worth noting that while the total COEs available for Cat A and E increased this session compared to the last, the total COEs available for Cat B was actually lower this round compared to the last. This supply change could also explain the respective changes in the premiums for Cat A and B.
Get data on past COE bidding exercises at our COE bidding results page.
Cat A COE - The only category to slip this session
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, dipped this session by $406 (0.4%) to reach $93,604, ending a four-session consecutive rise in premiums for the category. The available quota for this category rose to 968 compared to 936 in the last session.
The current premium now stands at just 2.0% above the 12-month trailing average. The total number of number of bids submitted exceeded the number of successful bids this round by 69%, higher than the 12-month average of 52% for the category.
Cat B COE - The only category to see a reduction in total supply this session
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, saw the greatest climb this session. Premiums for the category climbed by $3,001 (2.9%) to reach $105,002. The total supply of COEs available for the category this session dropped to 666 compared to the 690 COEs available in the last session.
This climb takes current premiums for the category to 10.5% below the 12-month trailing average. The total number of unsuccessful bids this round exceeded the quota available by 86%. This is higher than the 12-month average figure for the category of 52%.
Cat C COE - Climbing by $1,499
Premiums for Cat C, for goods vehicles and buses, climbed this session by $1,499 (2.2%) to close at $70,001. The number of unsuccessful bids this round exceeded the available quota by 70%, just slightly lower than the 12-month average for this category of 79%.
Cat E COE - A $1,440 climb
Premiums in Cat E, the open category, also climbed this session, rising by a total of $1,440 (1.4%) to reach $104,689.
Despite this climb, current premiums for the category are still 13.4% below the 12-month trailing average. The total number of unsuccessful bids this round exceeded the quota available by 79%. This is lower than the 12-month average figure for the category of 87%.
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 | $84,550 (May) |
B | $99,116 (May) |
C | $71,120 (May) |
If you're looking for a fuss-free option to renew your car's COE, Sgcarmart Connect provides free COE renewal advice, which includes 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 2.88%
✅ 100% PQP Financing
✅ Settlement of entire COE renewal paperwork
Latest COE Prices
May 2024 | 1st BIDDING
NEXT TENDER: 23 May 2024
CAT A$93,604
CAT B$105,002
CAT C$70,001
CAT E$104,689
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