April 2024 COE Results 2nd Bidding: The COE dragon turned on its afterburner right after The Car Expo, especially in Cat A
In the second COE bidding exercise of April 2024, Cat A closed at $94,010; Cat B closed at $102,001; Cat C closed at $68,502; Cat D closed at $9,990; while Cat E closed at $103,249.
Cat A (car up to 1600cc & 130bhp, and EV with up to 110kW) received 1,390 bids for 936 COEs and its premium climbed by $5,010. Category A COE closed at $94,010.
Cat B (car above 1600cc or 130bhp, and EV with more than 110kW) received 1,008 bids for 690 COEs and its premium climbed by $667. Category B COE closed at $102,001.
Cat C (goods vehicle and bus) received 332 bids for 195 COEs and its premium increased by $1,001. Category C COE closed at $68,502.
Cat D (motorcycle) received 625 bids for 522 COEs and its premium decreased by only $10. Category D COE closed at $9,990.
Lastly, Cat E (all vehicles except motorcycle) received 269 bids for 155 COEs and climbed by $2,247. Category E COE closed at $103,249.
Nicholas Wong, chief executive officer of Honda authorised agent Kah Motor, told Motorist: “Looking at the total number of bids received in this round, Cat A has dropped by 500 bids and Cat B has dropped by about 200 bids. The sales volume and bookings are better than usual, but not better than expected. We were expecting better sales. We’re waiting for LTA to announce the next COE quota for May to July, possibly tomorrow or this Friday (April 19).”
Ng Choon Wee, commercial director of Komoco Motors which represents Hyundai in Singapore, told Motorist: “The Car Expo sales were not as good as expected. The Singapore Motorshow orders should be exhausted in the last bid or this bid, therefore fewer bids were received than in the previous round. A possible reason for the COE to be up is PHV re-fleeting.”
Corinne Chua, managing director of Volvo Car Singapore under Wearnes Automotive, told Motorist: “The next COE bidding is in three weeks, so some may have bid Open Cat for new car deliveries in these three weeks.”
Another senior executive at a major dealership in the Alexandra Road motor belt told Motorist: "The sales at Car Expo drove the order-take higher. Due to the pending announcement of new quota size, many dealers held back on their bidding, as seen in the number of bids. The premiums increased because some brands need to meet target for this month."
Here is a summary of the second COE bidding exercise for April 2024:
Category |
Current COE |
Previous COE |
Difference |
PQP |
|---|---|---|---|---|
| A – car up to 1600cc & 130bhp, and EV up to 110kW | $94,010 | $89,000 |
+ $5,010 |
$79,237 (Mar 2024) $78,482 (Apr 2024) |
| B – car above 1600cc or 130bhp, and EV above 110kW | $102,001 |
$101,334 |
+ $667 |
$106,075 (Mar 2024) $98,062 (Apr 2024) |
| C – goods vehicle and bus | $68,502 | $67,501 |
+ $1,001 |
$70,171 (Mar 2024) $71,053 (Apr 2024) |
| D – motorcycle | $9,990 | $10,000 |
– $10 |
$9,248 (Mar 2024) $9,286 (Apr 2024) |
| E – all vehicles except motorcycle | $103,249 | $101,002 |
+ $2,247 |
Not applicable |
Next round of COE bidding starts on 6 May 2024 at 12pm, with the results out on 8 May 2024 at 4pm.
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