COE Results October 2024 1st Bidding: Up across the board!
09 Oct 2024|1,019 views
CAT | Premium | Change | Quota | No. of bids |
A | $103,799 | ▲ $5,275 | 994 | 1,604 |
B | $116,002 | ▲ $6,001 |
671 | 1,084 |
C | $75,009 | ▲ $1,009 | 218 | 321 |
E | $116,000 | ▲ $2,896 | 182 | 346 |
The first round of bidding for October saw Certificate of Entitlement (COE) premiums climbing across all private car categories, likely due to the raised interest for new cars resulting from the conclusion of The Car Expo. This event could also explain the significant jump in the total number of bids received for Cat A this session, which jumped from 1,377 in the last session to 1,604 this session.
It is also worthy to note, however, that this session's jump in premiums might not be representative of all the car buying activity generated from the event, as dealers here could be waiting for the increased COE supply come the quarter starting from November 2024 to meet their received orders at a lower premium.
Get data on past COE bidding exercises at our COE bidding results page.
Cat A COE - A $5,275 jump
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, continued to climb this session, rising by a total of $5,275 (5.4%) bringing the premium for the category to a new total of $103,799. Premiums for the category have not been this high since October of 2023.
The current premium now stands at 15.9% above the 12-month trailing average. The total number of number of bids submitted exceeded the number of successful bids this round by 61%, higher than the 12-month average of 56% for the category.
Cat B COE - Climbing by $6,001!
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 upwards this session by a total of $6,001 (5.5%). This jump saw premiums for the category reaching $116,002.
This climb means the current premium for the category is now just 6.4% above the 12-month trailing average. The total number of unsuccessful bids this round exceeded the quota available by 62%. This is higher than the 12-month average figure for the category of 54%.
Cat C COE - Also climbing up
Premiums for Cat C, for goods vehicles and buses, climbed this session by just $1,009 (1.4%) to close at $75,009. The number of unsuccessful bids this round exceeded the available quota by 47%, lower than the 12-month average for this category of 67%.
Cat E COE - Still going strong
Premiums for Cat E, the open category rose by a total of $2,896 (8.5%) to reach $116,000.
The current premium for the category has now climbed to reach 4.3% above the 12-month trailing average. The total number of unsuccessful bids this round exceeded the quota available by 90%. This is higher than the 12-month average figure for the category of 82%.
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 | $94,351 (Oct) |
B | $104,866 (Oct) |
C | $72,018 (Oct) |
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 | $103,799 | ▲ $5,275 | 994 | 1,604 |
B | $116,002 | ▲ $6,001 |
671 | 1,084 |
C | $75,009 | ▲ $1,009 | 218 | 321 |
E | $116,000 | ▲ $2,896 | 182 | 346 |
The first round of bidding for October saw Certificate of Entitlement (COE) premiums climbing across all private car categories, likely due to the raised interest for new cars resulting from the conclusion of The Car Expo. This event could also explain the significant jump in the total number of bids received for Cat A this session, which jumped from 1,377 in the last session to 1,604 this session.
It is also worthy to note, however, that this session's jump in premiums might not be representative of all the car buying activity generated from the event, as dealers here could be waiting for the increased COE supply come the quarter starting from November 2024 to meet their received orders at a lower premium.
Get data on past COE bidding exercises at our COE bidding results page.
Cat A COE - A $5,275 jump
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, continued to climb this session, rising by a total of $5,275 (5.4%) bringing the premium for the category to a new total of $103,799. Premiums for the category have not been this high since October of 2023.
The current premium now stands at 15.9% above the 12-month trailing average. The total number of number of bids submitted exceeded the number of successful bids this round by 61%, higher than the 12-month average of 56% for the category.
Cat B COE - Climbing by $6,001!
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 upwards this session by a total of $6,001 (5.5%). This jump saw premiums for the category reaching $116,002.
This climb means the current premium for the category is now just 6.4% above the 12-month trailing average. The total number of unsuccessful bids this round exceeded the quota available by 62%. This is higher than the 12-month average figure for the category of 54%.
Cat C COE - Also climbing up
Premiums for Cat C, for goods vehicles and buses, climbed this session by just $1,009 (1.4%) to close at $75,009. The number of unsuccessful bids this round exceeded the available quota by 47%, lower than the 12-month average for this category of 67%.
Cat E COE - Still going strong
Premiums for Cat E, the open category rose by a total of $2,896 (8.5%) to reach $116,000.
The current premium for the category has now climbed to reach 4.3% above the 12-month trailing average. The total number of unsuccessful bids this round exceeded the quota available by 90%. This is higher than the 12-month average figure for the category of 82%.
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 | $94,351 (Oct) |
B | $104,866 (Oct) |
C | $72,018 (Oct) |
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
October 2024 | 1st BIDDING
NEXT TENDER: 23 Oct 2024
CAT A$103,799
CAT B$116,002
CAT C$75,009
CAT E$116,000
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