February 2025 COE Results 2nd Bidding: The COE snake digested most of its CNY bak kwa and became more active in Cat A, which jumped by 9.2% to go back to the $90k range

In the second COE bidding exercise of February 2025, Cat A closed at $92,850; Cat B closed at $109,598; Cat C closed at $65,189; Cat D closed at $8,791; while Cat E closed at $110,002.

Cat A (car up to 1600cc & 130bhp, and EV with up to 110kW) received 2,290 bids for 1,149 COEs and its premium climbed by $7,850. Category A COE closed at $92,850.

Cat B (car above 1600cc or 130bhp, and EV with more than 110kW) received 1,135 bids for 744 COEs and its premium dipped by $1,506. Category B COE closed at $109,598.

Cat C (goods vehicle and bus) received 430 bids for 259 COEs and its premium increased by $2,683. Category C COE closed at $65,189.

Cat D (motorcycle) received 645 bids for 524 COEs and its premium increased by $502. Category D COE closed at $8,791.

Lastly, Cat E (all vehicles except motorcycle) received 367 bids for 198 COEs and climbed by just two dollars. Category E COE closed at $110,002.

The sales director at a popular dealership in the Alexandra motor belt told Motorist: “Today’s Cat A COE result is a function of the better order-take since the last bidding.” 

Adele Lee, assistant general manager of Polestar under Wearnes Automotive, told Motorist: “Most of the big boys seem to be moving Cat A cars. We’re hoping that Cat B will stabilise, it seems that most of the dealers had a low bidding threshold, as the COE didn’t move much even though the number of bids was high.”

Ng Choon Wee, commercial director of Komoco Motors which represents Hyundai in Singapore, told Motorist: “The drop for Cat A to $85,000 in the last round has brought customers back to the showroom. The Cat A bids received in this round was double the available quota. This is much more than in the previous round, which had just 300 more bids than the quota available. I also observed some irrational bidding, especially during the last five minutes, which saw more bidders revising their bids rather than new entries. For Cat B, the COE price climb during the last 20 minutes was steady. The closing premium is still high, though, and consumers will stay by the side until prices come down to a reasonable level.”

Corinne Chua, managing director of Volvo Car Singapore under Wearnes Automotive, told Motorist:  “Categories B and E will probably stabilise at this price ($110k). With the unsuccessful bids going up from the last bid but the prices dropped, it also shows the maximum threshold that customers are willing to pay for the car.”

Nicholas Wong, chief executive officer of Honda authorised agent Kah Motor, told Motorist: “The recent drop in Cat A COE saw customers flocking back to the showrooms, causing the number of bids to be double the Cat A COE quota in this round. This rebound may not be sustainable.”

Here is a summary of the second COE bidding exercise for February 2025: