Cat B slips while Cat A and Cat E climb; Cat E COE now stands at $99,999

In the first round of bidding for April, Certificate of Entitlement (COE) premiums rose for Cat A and Cat E, while premiums for Cat B slipped.

The recent high petrol prices may have persuaded car buyers to opt for more fuel economical vehicles in the past weeks, which are more likely to fall into Cat A.

The recent change in the power threshold for electric vehicles to be considered in Cat A may have also prompted more shoppers of affordable models which typically fall into the Cat A category to make their purchases these past weeks in anticipation of higher premiums for the segment.

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

Cat A COE - 12th consecutive climb this session

Premiums for Cat A, for cars up to 1,600cc in engine capacity and with an output of no more than 130bhp, rose by $1,440 (2.0 per cent) to end at $72,996 this session.

Premiums for the category now stand at 38.6 per cent above the 12-month trailing average.

The number of unsuccessful bids this round exceeded the available quota by 35 per cent, lower than the 12-month average of 45 per cent for the category.

Cat B COE - a slip after eight consecutive climbs

Premiums for Cat B, for larger cars with more than 130bhp or engine displacements larger than 1,600cc, took a small hit this session, dropping by $500 (0.5 per cent) to reach $98,389.

This slip in premiums for the category has brought the current price to 37.4 per cent above the 12-month trailing average. Premiums for the category now rest at the 96th percentile of the 12-month average.

This total number of unsuccessful bids this round exceeds the quota available by 29 per cent. The 12-month average figure for this category is currently 44 per cent.

Cat C COE - still climbing upward

Premiums for Cat C, for goods vehicles and buses, rose by $3,397 this session (6.6 per cent), closing at $54,901.

The number of unsuccessful bids this round exceeded the available quota by 147 per cent, far higher than the 12-month average for this category of 60 per cent.

Cat E COE - kissing the $100,000 mark

Cat E, the open category, rose by $989 (1.0 per cent) this session, bringing the premium to $99,999.

This rise sees premiums for the category now reaching 34.8 per cent above the 12-month trailing average.

The number of unsuccessful bids this round exceeded the available quota by 61 per cent. The 12-month average for this figure for the category is 68 per cent.

ALSO READ: COE surges ahead in all categories, Cat B and E premiums now close to $100k

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 provides free COE renewal service which includes advice, 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 1.88 per cent
• 100 per cent PQP Financing
• Settlement of entire COE renewal paperwork

This article was first published in sgCarMart.