September 2024 COE Results 2nd Bidding: The COE dragon drove fast in a dragon boat support race for F1 Singapore Grand Prix and went even higher in Categories A, B and E, with Cat A COE almost hitting $99k
In the second COE bidding exercise of September 2024, Cat A closed at $98,524; Cat B closed at $110,001; Cat C closed at $74,000; Cat D closed at $9,900; while Cat E closed at $113,104.
Cat A (car up to 1600cc & 130bhp, and EV with up to 110kW) received 1,377 bids for 990 COEs and its premium climbed by $2,034. Category A COE closed at $98,524.
Cat B (car above 1600cc or 130bhp, and EV with more than 110kW) received 879 bids for 663 COEs and its premium climbed by $3,701. Category B COE closed at $110,001.
Cat C (goods vehicle and bus) received 318 bids for 217 COEs and its premium decreased by a single dollar. Category C COE closed at $74,000.
Cat D (motorcycle) received 636 bids for 520 COEs and its premium increased by $99. Category D COE closed at $9,900.
Lastly, Cat E (all vehicles except motorcycle) received 383 bids for 177 COEs and climbed by $6,203. Category E COE closed at $113,104.
Ng Choon Wee, commercial director of Komoco Motors which represents Hyundai in Singapore, told Motorist: “Crazy! Cat A is just overcrowded, with too many new players and new models. Cat A COE is at one-year high now. As for Cat B, the total bids received were lower than the last round, yet the COE increased by more than $3k.”
Nicholas Wong, chief executive officer of Honda authorised agent Kah Motor, told Motorist: “It’s like shares - market expectations of the future situation. I’m not sure whether next three weeks will have good business, as PHV is still a strong player in the industry. Just look at Cat E, jump so much, people anticipate the next round COE to go up.”
Another senior executive at a major dealership in the Alexandra Road motor belt told Motorist: “Everyone is trying to secure COEs before the next bid three weeks from now and also Car Expo, thus pushing the premiums upwards.”
Ron Lim, head of sales and marketing at Nissan authorised agent Tan Chong Motor, told Motorist: “Next tender is what we call a ‘double whammy’, given the three-weeks long gap plus Car Expo event (Oct 5-6), which will definitely put extremely huge pressure on COE prices in the first tender in October.”
Here is a summary of the second COE bidding exercise for September 2024:
Category |
Current COE |
Previous COE |
Difference |
PQP |
|---|---|---|---|---|
| A – car up to 1600cc & 130bhp, and EV up to 110kW | $98,524 | $96,490 |
+ $2,034 |
$91,383 (Aug 2024) $91,697 (Sep 2024) |
| B – car above 1600cc or 130bhp, and EV above 110kW | $110,001 |
$106,300 |
+ $3,701 |
$102,423 (Aug 2024) $102,639 (Sep 2024) |
| C – goods vehicle and bus | $74,000 | $74,001 |
– $1 |
$70,516 (Aug 2024) $70,766 (Sep 2024) |
| D – motorcycle | $9,900 | $9,801 |
+ $99 |
$9,133 (Aug 2024) $9,149 (Sep 2024) |
| E – all vehicles except motorcycle | $113,104 | $106,901 |
+ $6,203 |
Not applicable |
Next round of COE bidding starts on 7 October 2024 at 12pm, with the results out on 9 October 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.
