COE premiums dip across all categories in 2nd bidding exercise for October 2024

In the second Certificate of Entitlement (COE) bidding exercise for October 2024, prices decreased across all categories, with the largest decline coming in Category B.

Cat A COEs, which are used for cars with internal combustion engines (ICEs) of up to 1,600cc in capacity and have a power output of less than 130hp, as well as electric cars with a power output of up to 110kW, went down by $899 to end the bidding exercise at $102,900.

Cat B COEs, which are used for ICE cars that exceed 1,600cc in capacity or have more than 130hp, and electric cars with over 110kW, saw premiums going down by $2,112 to end at $113,890.

Cat C, which are for goods vehicles and buses, saw prices went down by $2,070 to end the bidding exercise at $72,939.

Cat D, which are reserved for motorcycles, went down by $412 to close at $9,589.

Finally, Cat E, which is open to all vehicles except motorcycles, saw premiums go down by $1,300 to finish the exercise at $114,700.

Here's a summary of the second COE bidding exercise for October 2024:

*PQP, or Prevailing Quota Premium, is the moving average of COE prices in the last 3 months, and denotes the amount payable in order to renew a car's COE at the end of its tenure.

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