December COE Bidding Snapshot
What Just Happened?
In the very first round of December’s bidding, Cat A and Cat B prices jumped, while Cat E slid a little downhill.
Numbers at a Glance
- Cat A: Premium up $2,009 to $57,010 – bids moved from 536 to 771.
- Cat B: Premium up $800 to $80,401 – bids shifted from 593 to 822.
- Cat C: Premium up $1,498 to $45,000 – bids grew from 93 to 147.
- Cat E: Premium down $1,001 to $85,000 – bids dropped from 149 to 245.
Why Cat A’s Prices Are Sky‑High?
Turns out the new Honda Civic is the hot commodity people can’t wait to drive, and it’s pushing Cat A premiums up. This level hasn’t been seen since November 2015 – a real market record!
Want the Full Breakdown?
Head over to our COE Bidding Results page to dive into past auction data. (It’s all in plain English, no extra bells & whistles – just the facts and a few chuckles along the way.)
Cat A COE – A $2,009 climb
Cat A Premiums Take a Wild Ride
For cars keeping the engine under 1,600 cc and power below 130 bhp, insurance rates have shot up by $2,009 — that’s a 3.7% climb. The new average now sits at a whopping $57,010.
- This is the steepest rise in the category since November 2015.
- Engines running lean but still in the Cat A zone are feeling the heat.
- Policymakers and drivers alike are watching closely as these premium spikes spread.
Insurance Premiums Are Turning Up the Heat
For the fourth time in a row, insurance premiums have been on a climb, setting a new “high‑scoring” record for the category. After a decade of steady growth, the current figures are a whopping 24 % above the 12‑month rolling average. Anyone who expected a gentle rise can now clear their state of the fact that premiums are apparently feeling hyper‑active.
What Happens When Bids Fall Short?
- Over the past cycle, unsuccessful bids topped the available quota by a staggering 44 %.
- This figure smacks the average of 40 % seen over the past year for this category, indicating a growing mismatch between demand and supply.
- In plain English: the market has more “fall‑outs” than usual, pointing to a supply squeeze that’s putting more pressure on premiums.
Why the Numbers Matter
These numbers aren’t just flashy statistics; they help investors and policy‑holders gauge how much they might be paying. With premiums climbing and bids missing the mark, it’s a good time to remember that the insurance world can feel a bit like a roller‑coaster – thrilling, a little bit scary, but crucial for those looking to stay safe and protected.
Cat B COE – Bouncing back from last month’s drop
Insurance Premiums Take a Little Up‑Hill
For Cat B—the fast‑food cars that bite more than 130 bhp or have an engine bigger than 1,600 cc—the premiums took a gentle hike. The price climbed by $800 this session, a 1.0 % bump, and now sits at $80,401.
Getting Back on Track
After the lift, Cat B premiums are nudging 37.6 % above the 12‑month trailing average. In other words, the price is perched at the 92nd percentile of last year’s spread—literally near the top of the class.
Bid Chaos
- Unsuccessful bids this round were 39 % higher than the quota—go figure!
- That’s a little below the 12‑month average of 40 %, so we’re tripping a bit over the limit.
So, while the uptick isn’t a massive surge, it’s enough to keep our Cat B fans on their toes—and the insurer’s boardroom on their to‑do list.
Cat C COE – A $1,498 climb this session
Cat C Insurance: The Premium Surge & The Bids Crunch
Price jump alert! The insurers rolled out a new Cat C premium that’s up by $1,498 – that’s a 3.4% rise, landing at a tidy $45,000. Whether you’re a bus driver or a logistic manager, that extra cost is something to note.
How the bidding game is playing out
- Too many applicants: This round saw 58 % more bids than the quota allowed. That’s a significant overshoot, more than the average 84 % we’ve had over the past year.
- What does it mean? Practically, the market is crowded, and the competition for the limited spots is heating up.
What can you do?
- Stay ahead of the curve: Keep your documentation in tip‑top shape so you’re ready for any changes.
- Don’t wait: The higher the bids, the lower your odds of finding a spot.
In short, the Cat C premiums are nudging up, and the bidding frenzy is getting fiercer. Time to tighten your belt and keep your paperwork sorted!
Cat E COE – The only category to slip this session
Cat E in the Open Category: A Slight Downshift in Premiums
What the Numbers Are Saying
Cat E, part of the open category, has slipped again—exactly like last round of the show. Premiums fell by $1,001 (that’s a 1.2 % dip) and clocked in at $85,000 for this session.
Fast Facts (and a Dash of Trivia)
- Current premium is a whopping 40.2 % above the 12‑month trailing average.
- That places the price at the 88th percentile among the last year’s figures.
In plain English: the market isn’t feeling super hot, but it’s also not in a deep slump. If you’re watching the curve, you’ll see it hovering near the top end of the past year’s range.
Prevailing Quota Premium
Getting Your COE Renewed: The Price Tag Breakdown
When it’s time to renew your car’s Certificate of Entitlement (COE), you’ll be faced with the Prevailing Quota Premium—a price roughly calculated by averaging the last three months of COE rates.
Here’s what you’re looking at for the December renewal cycle:
- Category A: $50,570
- Category B: $73,954
- Category C: $40,650
These numbers come straight from the market’s recent trends, so if you’ve been keeping an eye on COE prices, you already know the general ballpark.
Why the Quota Premium Matters
The COE premium reflects how much you’ll have to shell out during the next cycle. Think of it like a lottery: the more cars you want to add to the highway, the higher the premium gets. Happy or not, you’ll need to budget for it before you hit the road again.
Quick Tips for Navigating the Renewal Process
- Track COE prices monthly so you can anticipate spikes.
- Consider timing your renewal just after a price drop—every little bit helps.
- Stay informed: news from sgCarMart and other trusted sources can give you a heads‑up on price movements.
Renewing your COE may feel like a hassle, but with a little planning, you can keep your ride without breaking the bank. Happy driving!
