April 2024 COE Results 1st Bidding: No April Fools here, just the April COE dragon flying up in all car categories and zipping to six digits in Categories B & E
In the first COE bidding exercise of April 2024, Cat A closed at $89,000; Cat B closed at $101,334; Cat C closed at $67,501; Cat D closed at $10,000; while Cat E closed at $101,002.
Cat A (car up to 1600cc & 130bhp, and EV with up to 110kW) received 1,917 bids for 975 COEs and its premium climbed by $3,511. Category A COE closed at $89,000.
Cat B (car above 1600cc or 130bhp, and EV with more than 110kW) received 1,206 bids for 653 COEs and its premium climbed by $5,323. Category B COE closed at $101,334.
Cat C (goods vehicle and bus) received 348 bids for 197 COEs and its premium decreased by $2,611. Category C COE closed at $67,501.
Cat D (motorcycle) received 601 bids for 520 COEs and its premium increased by $311. Category D COE closed at $10,000.
Lastly, Cat E (all vehicles except motorcycle) received 320 bids for 164 COEs and climbed by $5,146. Category E COE closed at $101,002.
Ng Choon Wee, commercial director of Komoco Motors which represents Hyundai in Singapore, told Motorist: “Both Cat A and Cat B took me by surprise as showrooms were rather quiet over the last two weeks. Cat B crossing $100k could dampen buying sentiments. But dealers holding Cat E COEs at $90k+ from February and March bidding, and who have available stock, may be aggressive in their promotion at Car Expo (April 13-14). Cat A demand is still strong with 1,917 bids received, about the same as the second bid of March.”
Corinne Chua, managing director of Volvo Car Singapore under Wearnes Automotive, told Motorist: “The order take hasn’t been more than usual. It could be stock arrivals for orders taken during the Motorshow. For Open Cat, it could be planning for the spike after Car Expo and the three-week break (April 17 to May 8) after the next COE round. Likely it will go up after Car Expo.”
Here is a summary of the first COE bidding exercise for April 2024:
Category |
Current COE |
Previous COE |
Difference |
PQP |
|---|---|---|---|---|
| A – car up to 1600cc & 130bhp, and EV up to 110kW | $89,000 | $85,489 |
+ $3,511 |
$79,237 (Mar 2024) $78,482 (Apr 2024) |
| B – car above 1600cc or 130bhp, and EV above 110kW | $101,334 |
$96,011 |
+ $5,323 |
$106,075 (Mar 2024) $98,062 (Apr 2024) |
| C – goods vehicle and bus | $67,501 | $70,112 |
– $2,611 |
$70,171 (Mar 2024) $71,053 (Apr 2024) |
| D – motorcycle | $10,000 | $9,689 |
+ $311 |
$9,248 (Mar 2024) $9,286 (Apr 2024) |
| E – all vehicles except motorcycle | $101,002 | $95,856 |
+ $5,146 |
Not applicable |
Next round of COE bidding starts on 15 April 2024 at 12pm, with the results out on 17 April 2024 at 4pm.
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