COE Results July 2023 2nd Bidding: Cat A and B dip; E rises
19 Jul 2023|1,325 views
CAT | Premium | Change | Quota | No. of bids |
A | $95,202 | ▼ $1,798 | 581 | 728 |
B | $118,001 | ▼ $1 | 462 | 602 |
C | $82,001 | ▼ $222 | 69 | 133 |
E | $122,110 | ▲ $1,100 | 129 | 243 |
In the second round of bidding for July, Certificate of Entitlement (COE) premiums dipped for Cat A and Cat B - the latter falling a mere $1 - while those in Cat E climbed again after falling in the previous round. The quota for all categories was lower in this session against the previous one.
The more significant dip in Cat A premiums - of $1,798 - is perhaps reflective of the fewer bids received this session (-3.7%), even as the quota fell less steeply (-1.2%). On the other hand, the number of bids rose in both Cat B, as well as in the open Cat E, which saw the only spike in premiums among the passenger car categories this time round - of $1,110.
The results come in even as the LTA confirmed last week that the COE quota for the upcoming August to October 2023 is set to increase for all private car categories.
On that note, a number of cars have been launched (or are set to be launched soon) around this time. Cat B models include the all-electric Hyundai Ioniq 6, Maxus MIFA 9 and Audi Q8 e-tron and Q8 Sportback e-tron, while Cat A models comprise the all new Opel Astra, and incoming Hyundai Kona Hybrid.
Get data on past COE bidding exercises at our COE bidding results page.
Cat A COE - A nearly $1,800 dip 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 by a significant amount this session, falling $1,798 (1.9%) to reach $95,202.
This climb takes premiums for the category to 6.1% above the 12-month trailing average. The total number of bids submitted this session exceeded the number of successful bids this round by 25%, lower than the 12-month average of 38% for the category.
Cat B COE - Almost level against the previous 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, fell a mere $1 (0.0008%, if you must know) this session to end at $118,001. That effectively places it level with the premium amount from the previous bidding session.
Without a sharp spike, premiums for the category now stand at 5.0% above the 12-month trailing average.
The total number of unsuccessful bids this round exceeded the quota available by 30%, lower than the 12-month average figure for this category of 39%.
Cat C COE - Taking another small fall
Premiums for Cat C, for goods vehicles and buses, fell this session by $222 (0.3%) to close at $82,001.
The number of unsuccessful bids this round exceeded the available quota by 93%, lower than the 12-month average for this category of 114%.
Cat E COE - The only private passenger category to rise this session
After falling $2,000 in the previous session, premiums in Cat E, the open category, went upwards again with a $1,110 rise (0.9%) this session. The spike brings the current premium for the category to $122,110.
This increase brings current premiums for the category to a slightly higher 6.2% above the 12-month trailing average.
The number of unsuccessful bids this round exceeded the available quota by 88%, up from 67% previously. The 12-month average for this figure for the category is now 86%.
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 | $97,905 (Jul) $96,569 (Aug) |
B | $118,921 (Jul) $118,357 (Aug) |
C | $78,361 (Jul) $80,376 (Aug) |
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.
✅ 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 | $95,202 | ▼ $1,798 | 581 | 728 |
B | $118,001 | ▼ $1 | 462 | 602 |
C | $82,001 | ▼ $222 | 69 | 133 |
E | $122,110 | ▲ $1,100 | 129 | 243 |
In the second round of bidding for July, Certificate of Entitlement (COE) premiums dipped for Cat A and Cat B - the latter falling a mere $1 - while those in Cat E climbed again after falling in the previous round. The quota for all categories was lower in this session against the previous one.
The more significant dip in Cat A premiums - of $1,798 - is perhaps reflective of the fewer bids received this session (-3.7%), even as the quota fell less steeply (-1.2%). On the other hand, the number of bids rose in both Cat B, as well as in the open Cat E, which saw the only spike in premiums among the passenger car categories this time round - of $1,110.
The results come in even as the LTA confirmed last week that the COE quota for the upcoming August to October 2023 is set to increase for all private car categories.
On that note, a number of cars have been launched (or are set to be launched soon) around this time. Cat B models include the all-electric Hyundai Ioniq 6, Maxus MIFA 9 and Audi Q8 e-tron and Q8 Sportback e-tron, while Cat A models comprise the all new Opel Astra, and incoming Hyundai Kona Hybrid.
Get data on past COE bidding exercises at our COE bidding results page.
Cat A COE - A nearly $1,800 dip 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 by a significant amount this session, falling $1,798 (1.9%) to reach $95,202.
This climb takes premiums for the category to 6.1% above the 12-month trailing average. The total number of bids submitted this session exceeded the number of successful bids this round by 25%, lower than the 12-month average of 38% for the category.
Cat B COE - Almost level against the previous 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, fell a mere $1 (0.0008%, if you must know) this session to end at $118,001. That effectively places it level with the premium amount from the previous bidding session.
Without a sharp spike, premiums for the category now stand at 5.0% above the 12-month trailing average.
The total number of unsuccessful bids this round exceeded the quota available by 30%, lower than the 12-month average figure for this category of 39%.
Cat C COE - Taking another small fall
Premiums for Cat C, for goods vehicles and buses, fell this session by $222 (0.3%) to close at $82,001.
The number of unsuccessful bids this round exceeded the available quota by 93%, lower than the 12-month average for this category of 114%.
Cat E COE - The only private passenger category to rise this session
After falling $2,000 in the previous session, premiums in Cat E, the open category, went upwards again with a $1,110 rise (0.9%) this session. The spike brings the current premium for the category to $122,110.
This increase brings current premiums for the category to a slightly higher 6.2% above the 12-month trailing average.
The number of unsuccessful bids this round exceeded the available quota by 88%, up from 67% previously. The 12-month average for this figure for the category is now 86%.
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 | $97,905 (Jul) $96,569 (Aug) |
B | $118,921 (Jul) $118,357 (Aug) |
C | $78,361 (Jul) $80,376 (Aug) |
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.
✅ 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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