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.
Thinking about upgrading your car after seeing the latest COE results? Motorist can help you sell your vehicle at the highest possible price. Simply click on the button below to receive an online car valuation today. This service is completely free, with zero obligations.
Claim your free car valuation today!
For those looking to renew their COE, Motorist also provides free COE renewal advice. That way, you can decide if it's a better option to scrap your vehicle or extend its life.
Here are some other resources that might be of interest:
COE Hike: Car leasing companies not main culprits in rising COE prices
COE Hike: Why Now Is the Best Time to Purchase a Used Car
COE Hike: Why It's A Good Time To Sell Your Current Car Now
Join our COE Live Results & Speculations Telegram Group
Schedule a free COE renewal consultation session!
Super App for
Vehicle Owners
Download the Motorist App now. Designed by drivers for drivers, this all-in-one app lets you receive the latest traffic updates, gives you access to live traffic cameras, and helps you manage LTA and vehicle matters
Did you know we have a Motorist Telegram Channel? Created exclusively for drivers and car owners in Singapore, you can get instant info about our latest promotions, articles, tips & hacks, or simply chat with the Motorist Team and fellow drivers.
