COE premiums rise across all categories, Cat B and E reach 6-year high

 

CAT	Premium	Change	Quota	No. of bids
A	$48,000	▲ $1,000	803	1,040
B	$68,310	▲ $5,710	772	1,189
C	$39,000	▼ $1,001	120	203
E	$70,002	▲ $5,302	198	400

In the second round of bidding for September, Certificate of Entitlement (COE) prices rose across all private car categories. 

The sustainted promotions offered by local dealers, as well as the launch of popular models like the Kia Cerato and the Honda Civic may have driven up local demand this month.

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

Cat A COE - A 2.1 per cent 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, increased by $1,000 (2.1 per cent) and ended at $48,000 this bidding round.

This third consecutive climb sees premiums for the category now standing at 11.5 per cent above the 12-month trailing average.

The number of unsuccessful bids this round exceeded the available quota by 30 per cent. This figure has averaged 40 per cent for Cat A in the last 12 months.

Cat B COE - Still climbing to new highs

Premiums for Cat B, for larger cars with more than 130bhp or engine displacements larger than 1,600cc, continued to climb this bidding round despite reaching to new highs in last sessions. Premiums for Cat B rose by $5,710 (9.1 per cent) to reach $68,310.

This lastest climb has brought premiums for the category up to 34 per cent above the 12-month trailing average.

The total number of unsuccessful bids this round exceeded the quota available by 54 per cent, higher than the 12-month average of 41 per cent.

Cat C COE - A $1,001 drop

Premiums for Cat C, for goods vehicles and buses, fell by $1,001 (2.5 per cent), closing at $39,000.

The number of unsuccessful bids this round exceeded the available quota by 69 per cent, lower than the 12-month trailing average of 81 per cent.

Cat E COE - Breaking the $70,000 ceiling

In Cat E, the open category, premiums rose by $5,302 (8.2 per cent), closing at $70,002.

The premium for this bidding round now stands at 33.8 per cent above the 12-month trailing average. Premiums for the category have not been this high since June of 2015.

The number of unsuccessful bids this round exceeded the available quota by 102 per cent. The 12-month trailing average for this figure is 60 per cent.

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.

This article was first published in sgCarMart.