September 2024 COE Results 1st Bidding: The COE dragon didn’t take a school holiday break, with quota premiums increasing across the board and Category A exceeding $96k
In the first COE bidding exercise of September 2024, Cat A closed at $96,490; Cat B closed at $106,300; Cat C closed at $74,001; Cat D closed at $9,801; while Cat E closed at $106,901.
Cat A (car up to 1600cc & 130bhp, and EV with up to 110kW) received 1,308 bids for 983 COEs and its premium climbed by $2,590. Category A COE closed at $96,490.
Cat B (car above 1600cc or 130bhp, and EV with more than 110kW) received 924 bids for 665 COEs and its premium climbed by $411. Category B COE closed at $106,300.
Cat C (goods vehicle and bus) received 324 bids for 216 COEs and its premium increased by $1,601. Category C COE closed at $74,001.
Cat D (motorcycle) received 622 bids for 522 COEs and its premium increased by $491. Category D COE closed at $9,801.
Lastly, Cat E (all vehicles except motorcycle) received 388 bids for 176 COEs and climbed by $900. Category E COE closed at $106,901.
Nicholas Wong, chief executive officer of Honda authorised agent Kah Motor, told Motorist: “It’s quite strange that the number of bids dropped but the premium actually went up. It could be a rebound due to the last round’s COE drop (in Categories A and B).”
Jason Lim, managing director of BMW authorised agent Eurokars Auto, told Motorist: “Today’s COE results are quite expected. There were new model launches such as Honda Freed and also retail promos going on.”
Ng Choon Wee, commercial director of Komoco Motors which represents Hyundai in Singapore, told Motorist: “Category A is overcrowded, with many new brands and also existing brands having more cars in Cat A. Customers may want to wait for promotions at The Car Expo in October.”
Vincent Tan, managing director of Vincar, a popular multi-brand importer which is also Singapore’s Aion authorised distributor, told Motorist: “All the ADs squeeze into Category A.”
Here is a summary of the first COE bidding exercise for September 2024:
Category |
Current COE |
Previous COE |
Difference |
PQP |
|---|---|---|---|---|
| A – car up to 1600cc & 130bhp, and EV up to 110kW | $96,490 | $93,900 |
+ $2,590 |
$91,383 (Aug 2024) $91,697 (Sep 2024) |
| B – car above 1600cc or 130bhp, and EV above 110kW | $106,300 |
$105,889 |
+ $411 |
$102,423 (Aug 2024) $102,639 (Sep 2024) |
| C – goods vehicle and bus | $74,001 | $72,400 |
+ $1,601 |
$70,516 (Aug 2024) $70,766 (Sep 2024) |
| D – motorcycle | $9,801 | $9,310 |
+ $491 |
$9,133 (Aug 2024) $9,149 (Sep 2024) |
| E – all vehicles except motorcycle | $106,901 | $106,001 |
+ $900 |
Not applicable |
Next round of COE bidding starts on 16 September 2024 at 12pm, with the results out on 18 September 2024 at 4pm.
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