COE Results July 2024 1st Bidding: Cat A and E climb

The first round of bidding for July saw Certificate of Entitlement (COE) premiums climbing for Cat A and E while those for Cat B slipped.

Interest in new car purchases seems to have stayed relatively constant this session. Premiums for Cat B, this session's largest mover, saw only a 1.4% decrease compared to last session, although it may be worth nothing that the total number of bids submitted this session was the second lowest for the year (only the first COE bidding session in January 2024 saw a lower total number of bids submitted at 850). The total number of bids for categories A, E, and even C have stayed closed to the average of the figures we have witnessed within the last months.

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

Cat A COE - Making small gains

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, climbed upwards this session by just $112 (0.1%) to reach a total of $91,001.

The current premium now stands at just 0.2% above the 12-month trailing average. The total number of number of bids submitted exceeded the number of successful bids this round by 48%, lower than the 12-month average of 54% for the category.

Cat B COE - This session's biggest mover

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, slipped this session. This session saw premiums for the category fall by $1,433 (1.4%) to reach $100,901.

This slip takes current premiums for the category to 12.1% below the 12-month trailing average. The total number of unsuccessful bids this round exceeded the quota available by 34%. This is lower than the 12-month average figure for the category of 55%.

Cat C COE - Just A $101 climb this session

Premiums for Cat C, for goods vehicles and buses, climbed this session by $101 (0.1%) to close at $70,001. The number of unsuccessful bids this round exceeded the available quota by 52%, significantly lower than the 12-month average for this category of 70%.

Cat E COE - Also only seeing minor movements

Premiums for Cat E, the open category, also saw but a gentle climb this session, rising by a total of $889 (0.9%) to reach $100,889.

Current premiums for the category now 14.1% below the 12-month trailing average. The total number of unsuccessful bids this round exceeded the quota available by 76%. This is lower than the 12-month average figure for the category of 78%.

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 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