COE premiums fall across all categories as nation grapples with new safety measures

In the second round of bidding for May, Certificate of Entitlement (COE) prices fell across all categories.

Shoppers may have opted to put in more conservative bids for this round following the imposition of Phase 2 (Heightened Alert) safety measures.

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

Cat A COE - Premiums dive by $6,201

 

Premiums for Cat A, for cars up to 1,600cc in engine capacity and with an output of no more than 130bhp, saw the largest drop this bidding round, falling by $6,201 (12.9 per cent) to end at $41,801 this bidding round.

This second fall in premiums for the category means the current premiums now only stand at 7.4 per cent above the 12-month trailing average, as opposed to the 25.8 per cent last bidding round.

The number of unsuccessful bids this round exceeded the available quota by 45 per cent. This figure has averaged 53 per cent for Cat A in the last 12 months.

Cat B COE - Premiums slip $1,912

Premiums for Cat B, for larger cars with more than 130bhp or engine displacements larger than 1,600cc, also saw a second consecutive slip since the highs of April. This bidding round saw Cat B premiums fall by $1,912 (3.2 per cent) to end at $58,089.

This second slip sees the premium for this bidding round settling into the 91st percentile of the 12-month trailing average, at 34.3 per cent higher than the average for premiums of the last 12 months.

The total bids received this round sees the number of unsuccessful bids exceeding the quota available by only 33 per cent, below the 12-month average of 57 per cent.

ALSO READ: May 2021 COE results: Fall in premiums for Cat A to C

Cat C COE - Premiums take another drop

Premiums for Cat C, for goods vehicles and buses, decreased by $1,300 (3.0 per cent) to end at $41,7011.

The number of unsuccessful bids this round exceeded the available quota by 92 per cent, far higher than the 12-month trailing average of 70 per cent

Cat E COE -  Premiums slip $1,002

In Cat E, the open category, premiums likewise slipped, falling by $1,002 (1.6 per cent), to close at $62,000.

The premium for this bidding round now stands at 41.5 per cent above the 12-month trailing average and is at the 92nd percentile of the premiums of the last 12 months.

The number of unsuccessful bids this round exceeded the available quota by 50 per cent, lower than the 12-month trailing average of 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.