August 2024 COE Results 1st Bidding: The COE dragon’s flypast for National Day saw some fireworks, with Categories A and B shooting skyward together with open Cat E
In the first COE bidding exercise of August 2024 after a three-week break, Cat A closed at $94,289; Cat B closed at $106,101; Cat C closed at $71,100; Cat D closed at $9,601; while Cat E closed at $105,239.
Cat A (car up to 1600cc & 130bhp, and EV with up to 110kW) received 1,570 bids for 1,013 COEs and its premium climbed by $2,390. Category A COE closed at $94,289.
Cat B (car above 1600cc or 130bhp, and EV with more than 110kW) received 1,150 bids for 663 COEs and its premium climbed by $6,101. Category B COE closed at $106,101.
Cat C (goods vehicle and bus) received 312 bids for 218 COEs and its premium increased by $499. Category C COE closed at $71,100.
Cat D (motorcycle) received 599 bids for 517 COEs and its premium increased by $512. Category D COE closed at $9,601.
Lastly, Cat E (all vehicles except motorcycle) received 322 bids for 178 COEs and climbed by $4,898. Category E COE closed at $105,239.
Nicholas Wong, chief executive officer of Honda authorised agent Kah Motor, told Motorist: “It’s been three weeks and the results depended on our competitors’ bookings. I think the increases in premiums are more than expected, especially for Cat B. The COE supply is flat, which isn’t good news for the market.”
Jason Lim, managing director of BMW authorised agent Eurokars Auto, told Motorist: “The COE premiums were expected to increase, but the jump is considered quite big. Maybe there were aggressive bids from the new players which have to put cars on the road.”
Ng Choon Wee, commercial director of Komoco Motors which represents Hyundai in Singapore, told Motorist: "These COE results are within expectations but on the high side. We saw an increase in our showroom traffic, mainly looking at the new models Santa Fe and made-in-Singapore IONIQ 6. Cat E is lower than Cat B, this could be signalling an anticipation of weaker sales for the next two weeks."
Here is a summary of the first COE bidding exercise for August 2024:
Category |
Current COE |
Previous COE |
Difference |
PQP |
|---|---|---|---|---|
| A – car up to 1600cc & 130bhp, and EV up to 110kW | $94,289 | $91,899 |
+ $2,390 |
$91,401 (Jul 2024) $91,383 (Aug 2024) |
| B – car above 1600cc or 130bhp, and EV above 110kW | $106,101 |
$100,000 |
+ $6,101 |
$102,828 (Jul 2024) $102,423 (Aug 2024) |
| C – goods vehicle and bus | $71,100 | $70,601 |
+ $499 |
$69,749 (Jul 2024) $70,516 (Aug 2024) |
| D – motorcycle | $9,601 | $9,089 |
+ $512 |
$9,466 (Jul 2024) $9,133 (Aug 2024) |
| E – all vehicles except motorcycle | $105,239 | $100,341 |
+ $4,898 |
Not applicable |
Next round of COE bidding starts on 19 August 2024 at 12pm, with the results out on 21 August 2024 at 4pm.
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