February 2024 COE Results 1st Bidding: The COE dragon flew lower just before Chinese New Year
In the third COE bidding exercise of 2024, after a three-week break, Cat A closed at $79,000; Cat B closed at $102,338; Cat C closed at $72,001; Cat D closed at $9,290; while Cat E closed at $100,101.
Cat A (car up to 1600cc & 130bhp, and EV with up to 110kW) received 1,931 bids for 938 COEs and its premium dipped by $2,589. Category A COE closed at $79,000.
Cat B (car above 1600cc or 130bhp, and EV with more than 110kW) received 1,163 bids for 655 COEs and its premium dipped by $9,662. Category B COE closed at $102,338.
Cat C (goods vehicle and bus) received 366 bids for 196 COEs and its premium increased by $4,000. Category C COE closed at $72,001.
Cat D (motorcycle) received 717 bids for 530 COEs and its premium decreased by a token $19. Category D COE closed at $9,290.
Lastly, Cat E (all vehicles except motorcycle) received 305 bids for 163 COEs and dipped by $8,903. Category E COE closed at $100,101.
Jason Lim, managing director of BMW authorised agent Eurokars Auto, told Motorist: “There was a high level of bid submission, which was from Singapore Motorshow orders. However, it seems that the bidding strength was not really there.”
Nicholas Wong, chief executive officer of Honda authorised agent Kah Motor, told Motorist: “Both Cat A and B results are within my expectations. Cat A didn’t drop by a lot, Cat B dropped by more, about $10k. This was because in the previous round, Cat B went up by a lot, over $26k. Even though we had three weeks for this round of bidding, the market was quite soft. It was back to normal bookings.”
Here is a summary of the first COE bidding exercise for February 2024:
Category |
Current COE |
Previous COE |
Difference |
PQP |
|---|---|---|---|---|
| A – car up to 1600cc & 130bhp, and EV up to 110kW | $79,000 | $81,589 |
– $2,589 |
$93,952 (Jan 2024) $83,385 (Feb 2024) |
| B – car above 1600cc or 130bhp, and EV above 110kW | $102,338 |
$112,000 |
– $9,662 |
$130,241 (Jan 2024) $113,742 (Feb 2024) |
| C – goods vehicle and bus | $72,001 | $68,001 |
+ $4,000 |
$77,168 (Jan 2024) $71,319 (Feb 2024) |
| D – motorcycle | $9,290 | $9,309 |
– $19 |
$10,302 (Jan 2024) $9,696 (Feb 2024) |
| E – all vehicles except motorcycle | $100,101 | $109,004 |
– $8,903 |
Not applicable |
Read More: January 2024 COE Results 2nd Bidding: COEs for cars roared into life like a dragon awakened.
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