COE premiums rise across all categories for the third consecutive session
PHOTO: The Straits Times
PUBLISHED ONApril 22, 2021 3:47 AM
| CAT | Premium | Change | Quota | No. of bids |
| A | $49,640 | ▲ $4,040 | 890 | 1,290 |
| B | $61,190 | ▲ $8,881 | 956 | 1,585 |
| C | $44,001 | ▲ $7,867 | 262 | 441 |
| E | $62,100 | ▲ $9,900 | 303 | 633 |
In the second round of bidding for April, Certificate of Entitlement (COE) prices rose across all private car categories. This marks the third bidding round in which COE prices have risen across all private car categories.
More buyers could have been persuaded to make their purchases this round, in anticipation of further price increases expected in the coming quarter as a result of the recently announced
The approaching increase in VES surcharges may also have motivated more looking to purchase larger vehicles, which would typically fall into Cat B and E, to do so now, and could explain the larger jump in the categories this bidding session.
Cat A COE - $4,040 jump in premiums this session
This latest change sees premiums for the round continuing their now four-month long climb into highs not seen since 2017. Premiums for the category now stand at 32.2 per cent above the 12-month trailing average.
The number of unsuccessful bids this round exceeded the available quota by 45 per cent. This figure has averaged 52 per cent for Cat A in the last 12 months.
Cat B COE - Premiums jump a staggering $8,881
Premiums for Cat B, for larger cars with more than 130bhp or engine displacements larger than 1,600cc, took a large jump this bidding session, climbing by $8,881 (17 per cent) to reach $61,290.
This lastest climb has brought premiums for the category up to 49 per cent above the 12-month trailing average. Premiums for Cat B have also not seen such highs since September of 2015.
The total number of unsuccessful bids this round exceeded the quota available by 66per cent, higher than the 12-month average of 54 per cent.
Cat C COE - Premiums for commercial vehicles follow momentous climb for private cars
Premiums for Cat C, for goods vehicles and buses, rose by $7,867 (21.8 per cent), closing at $44,001.
Cat E COE - Premiums take near $10,000 jump
In Cat E, the open category, premiums rose by $9,900 (19 per cent), closing at $62,100.
The premium for this bidding round now stands at 27.2 per cent above the 12-month trailing average. Premiums for Cat E have not seen such highs since July of 2015.
The number of unsuccessful bids this round exceeded the available quota by 109 per cent. The 12-month trailing average for this figure is 59 per cent.
*The 12-month trailing average only takes into consideration the months wherein there was active COE bidding.
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 | $42,283 (April) |
| B | $47,316 ( April ) |
| C | $39,982 ( April ) |
This article was first published in sgCarMart.