COE in July: Cat B takes a small climb while Cat A and Cat E slip

PHOTO: sgCarMart
 
CAT Premium Change Quota No. of bids
A $45,001  $2,820  867 1,149
B $56,100 ▲  $68     840 1,087
C $38,900  $1,900  162 340
E $57,700 ▼  $301   259 416

In the first round of COE bidding for July, the COE premium for Cat A and Cat E slipped, while the premium for Cat B took a small climb.

The small changes in premiums for this month may have been due to the introduction of the increase in VES surcharge for more pollutive vehicles, which may have prompted dealers to take more conservative bids.

Cat A COE - Largest mover this bidding session

PHOTO: sgCarMart

Premiums for Cat A, for cars up to 1,600cc in engine capacity and with an output of no more than 130bhp, saw the biggest change this bidding session, dropping by $2,820 (5.9 per cent) and ended at $45,001 this bidding round.

This latest drop see premiums for the category now standing at 12.7 per cent above the 12-month trailing average.

The number of unsuccessful bids this round exceeded the available quota by 33 per cent, significantly lower than the average of 53 per cent for Cat A in the last 12 months.

Cat B COE - Premiums take a minimal hike

PHOTO: sgCarMart

Premiums for Cat B, for larger cars with more than 130bhp or engine displacements larger than 1,600cc, only saw a minimal increase this bidding round, rising by $68 (0.1 per cent) to reach $56,100.

This small increase sees the premium for this bidding round reaching into the 80th percentile of the 12-month trailing average, at 20.5 per cent higher than the average for premiums of the last 12 months.

The total number of unsuccessful bids this round exceeded the quota available by 29 per cent, which is far lower than the 12-month average of 56 per cent.

ALSO READ: COE 2nd bidding results (June 2021): Prices drop slightly after previous hike

Cat C COE - Premiums climb $1,900

Premiums for Cat C, for goods vehicles and buses, increased by $1,900 (5.1 per cent) to end at $38,900 this bidding session.

The number of unsuccessful bids this round exceeded the available quota by 110 per cent, far higher than the 12-month trailing average of 47 per cent.

Cat E COE - Premiums dip slightly

PHOTO: sgCarMart

In Cat E, the open category, premiums fell by $301 (0.5 per cent), closing at $57,700.

The premium for this bidding round now stands at 22.1 per cent above the 12-month trailing average and is at the 80th percentile of the premiums of the last 12 months.

The number of unsuccessful bids this round exceeded the available quota by 61 per cent, which is consistent with the 12-month trailing average for this figure, which also currently stands at 61 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.

Category Prevailing Quota Premium
A $46,896 (July)
B $57,955 (July)
C $39,807 (July)

This article was first published in sgCarMart.