January 2025 COE Results 2nd Bidding: The COE snake lost some grip on its ladder before Chinese New Year, with premiums dropping across the board, especially in Categories D and E
In the second COE bidding exercise of January 2025, Cat A closed at $93,601; Cat B closed at $116,625; Cat C closed at $65,476; Cat D closed at $7,721; while Cat E closed at $115,112.
Cat A (car up to 1600cc & 130bhp, and EV with up to 110kW) received 1,484 bids for 1,069 COEs and its premium dipped by only $98. Category A COE closed at $93,601.
Cat B (car above 1600cc or 130bhp, and EV with more than 110kW) received 1,071 bids for 686 COEs and its premium dipped by $4,876. Category B COE closed at $116,625.
Cat C (goods vehicle and bus) received 373 bids for 234 COEs and its premium decreased by $2,415. Category C COE closed at $65,476.
Cat D (motorcycle) received 651 bids for 536 COEs and its premium decreased by $1,280. Category D COE closed at $7,721.
Lastly, Cat E (all vehicles except motorcycle) received 326 bids for 190 COEs and dipped by $7,888. Category E COE closed at $115,112.
Nicholas Wong, chief executive officer of Honda authorised agent Kah Motor, told Motorist: “I think the market and dealers have responded to the announcement from LTA for more quota in the February quarter. With the CNY holidays coming up, it seems that COE should not be moving up after this. It’s a good respite for Cat B as the last round went through the roof. This round’s Cat A bids were reduced by around 22 units despite the motorshow, and the Cat B price dropped despite more bids.”
Jason Lim, managing director of BMW authorised agent Eurokars Auto, told Motorist: “Even with the motorshow orders to be fulfilled, Cat B went down, so it’s a good time to buy.”
Sabrina Sng, managing director of Polestar and Lotus under Wearnes Automotive, told Motorist: “The market is not rushing to secure their COE because they anticipate more quota from February onwards.”
A senior executive at another major dealership in the Alexandra motor belt told Motorist: “Given the CNY break, some dealers expect orders to be weaker and, together with the new quota, the COE potentially may drop, hence they did not chase the COE in this bid. If the order collection after CNY is strong, then the increase in COE quota will not help much.”
Ng Choon Wee, commercial director of Komoco Motors which represents Hyundai in Singapore, told Motorist: “We expected COE to rise due to motorshow. However, LTA announced a higher COE quota last week for February to April 2025. Cat B bidders might have held back due to the $12.5k increase in the last bid and the upcoming higher quota for the next three months. The total bids received for Cat B were substantially lesser, by 20 percent.”
Here is a summary of the second COE bidding exercise for January 2025:
Category |
Current COE |
Previous COE |
Difference |
PQP |
|---|---|---|---|---|
| A – car up to 1600cc & 130bhp, and EV up to 110kW | $93,601 | $93,699 |
– $98 |
$98,582 (Dec 2024) $97,747 (Jan 2025) |
| B – car above 1600cc or 130bhp, and EV above 110kW | $116,625 |
$121,501 |
– $4,876 |
$109,880 (Dec 2024) $109,164 (Jan 2025) |
| C – goods vehicle and bus | $65,476 | $67,891 |
– $2,415 |
$72,215 (Dec 2024) $70,912 (Jan 2025) |
| D – motorcycle | $7,721 | $9,001 |
– $1,280 |
$9,509 (Dec 2024) $8,935 (Jan 2025) |
| E – all vehicles except motorcycle | $115,112 | $123,000 |
– $7,888 |
Not applicable |
Next round of COE bidding starts on 3 February 2025 at 12pm, with the results out on 5 February 2025 at 4pm.
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