March 2024 COE Results 1st Bidding: The COE dragon flapped its wings and flew higher in all Categories except Cat B
In the first COE bidding exercise of March 2024, Cat A closed at $83,000; Cat B closed at $96,010; Cat C closed at $75,599; Cat D closed at $9,400; while Cat E closed at $95,010.
Cat A (car up to 1600cc & 130bhp, and EV with up to 110kW) received 1,866 bids for 963 COEs and its premium climbed by $6,199. Category A COE closed at $83,000.
Cat B (car above 1600cc or 130bhp, and EV with more than 110kW) received 1,073 bids for 708 COEs and its premium dipped by $990. Category B COE closed at $96,010.
Cat C (goods vehicle and bus) received 303 bids for 200 COEs and its premium increased by $2,598. Category C COE closed at $75,599.
Cat D (motorcycle) received 646 bids for 520 COEs and its premium increased by $489. Category D COE closed at $9,400.
Lastly, Cat E (all vehicles except motorcycle) received 282 bids for 159 COEs and climbed by $1,004. Category E COE closed at $95,010.
Ng Choon Wee, commercial director of Komoco Motors which represents Hyundai in Singapore, told Motorist: “I don't know where the bids came from. COE premiums will go lower for this year, especially when the Government is watching this very closely. Retail sales, excluding motor vehicles, have dropped month on month.”
Jason Lim, managing director of BMW authorised agent Eurokars Auto, told Motorist: “Cat A is the main one that went up, while Categories B and E were about there. For Cat A, we understand that over the last weekend, order collection for Cat A cars was pretty strong at the Alexandra motor belt. These orders will probably take at least one or two rounds of bidding to clear.”
Here is a summary of the first COE bidding exercise for March 2024:
Category |
Current COE |
Previous COE |
Difference |
PQP |
|---|---|---|---|---|
| A – car up to 1600cc & 130bhp, and EV up to 110kW | $83,000 | $76,801 |
+ $6,199 |
$83,385 (Feb 2024) $79,237 (Mar 2024) |
| B – car above 1600cc or 130bhp, and EV above 110kW | $96,010 |
$97,000 |
– $990 |
$113,742 (Feb 2024) $106,075 (Mar 2024) |
| C – goods vehicle and bus | $75,599 | $73,001 |
+ $2,598 |
$71,319 (Feb 2024) $70,171 (Mar 2024) |
| D – motorcycle | $9,400 | $8,911 |
+ $489 |
$9,696 (Feb 2024) $9,248 (Mar 2024) |
| E – all vehicles except motorcycle | $95,010 | $94,006 |
+ $1,004 |
Not applicable |
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