March 2025 COE Results 1st Bidding: All COE categories close higher, except Cat A which dropped slightly

In the first COE bidding exercise of March 2025, Cat A closed at $92,730; Cat B closed at $113,000; Cat C closed at $67,001; Cat D closed at $9,201; while Cat E closed at $112,901.

Cat A (car up to 1600cc & 130bhp, and EV with up to 110kW) received 2,034 bids for 1,144 COEs and its premium dropped by just $120. Category A COE closed at $92,730.

Cat B (car above 1600cc or 130bhp, and EV with more than 110kW) received 1,208 bids for 765 COEs and its premium grew by $3,402. Category B COE closed at $113,000.

Cat C (goods vehicle and bus) received 413 bids for 262 COEs and its premium increased by $1,812. Category C COE closed at $67,001.

Cat D (motorcycle) received 624 bids for 519 COEs and its premium increased by $410. Category D COE closed at $9,201.

Lastly, Cat E (all vehicles except motorcycle) received 403 bids for 202 COEs and climbed by $2,899. Category E COE closed at $112,901.

Corinne Chua, managing director of Volvo Car Singapore under Wearnes Automotive, told Motorist: “The number of unsuccessful bids in Categories A and B from the last bidding exercise remains high. While some might have used Open Cat COEs to register last month, some might have continued to bid in this exercise, particularly Cat A after the drop in COE two bids ago. In addition, the showroom traffic and order intake have been quite good in the last two weeks, as those sitting on the fence waiting for the additional 20k COEs from Feb onwards had started coming in. For Open Cat, some dealers may be keeping them for the coming three-week break after the March second bid, which typically sees higher COE prices with an additional week of sales. I think prices will remain quite stable for now, but may go up in the first bid of April after the three-week break.”

Ng Choon Wee, commercial director of Komoco Motors which represents Hyundai in Singapore, told Motorist: “There's a level of stability for Cat A, with total bids received being lesser by 256 bids, or more than 10 percent, as compared to the precious round. The Cat A COE premium was at $90,000 for 15 minutes. This may be an indicator of the ‘acceptance’ level. Cat B has slightly more bids received. The Cat B demand remains strong, but may not hold as it has passed the $110k level.”

Here is a summary of the first COE bidding exercise for March 2025: