CAT
Premium
Change
Quota
No. of bids
A
$60,761
▲ $2,863
542
819
B
$86,102
▲ $4,101
550
865
C
$44,001
▲ $1,000
80
149
E
$87,000
▲ $3,089
180
269
In the first round of bidding for January, Certificate of Entitlement (COE) prices rose across all categories.
The announced contraction of COE supply for this quarter, alongside the various car launches and offers given by brands including Citroen, Kia and Nissan across the Lunar New Year weekend may explain the increase in COE prices across the board. Increased buyer interest could also explain the rise in the total bids received for Cat A and E against the last bidding session.
Get data on past COE bidding exercises at our COE bidding results page.
Cat A COE – A $2,863 jump in premiums
Premiums for Cat A, for cars up to 1,600cc in engine capacity and with an output of no more than 130bhp, rose by $2,863 (4.9 per cent) to end at $60,761 this session.
This rise sees the current premium standing at 24.7 per cent above the 12-month trailing average. The number of unsuccessful bids this round exceeded the available quota by 51 per cent, far higher than the 12-month average of 39 per cent for the category.
Cat B COE – A $4,101 leap this session
Premiums for Car B, for larger cars with more than 130bhp or engine displacements larger than 1,600cc, meanwhile, saw the greatest leap this session, jumping by $4,101 (5.0 per cent) to reach a new high of $86,102. Premiums for the category have not been this high since October of 2013.
This latest jump in premiums for the category brings the current price to 35 per cent above the 12-month trailing average.
This session saw increased bidding activity for the category, with the total number of unsuccessful bids this round exceeding the quota available by 57 per cent, far higher than the 12-month average for this category of 38 per cent.
Cat C COE – Climbing in tune with the other categories
Premiums for Cat C, for goods vehicles and buses, rose by $1,000 this session (2.3 per cent), closing at $44,001.
The number of unsuccessful bids this round exceeded the available quota by 86 per cent, higher than the 12-month average for this category of 85 per cent.
Cat E COE – Now standing at $87,000
Cat E, the open category, rose by $3,089 (3.7 per cent) this session, bringing the premium to $87,000.
This rise sees premiums for the category now reaching 30.1 per cent above the 12-month trailing average.
The number of unsuccessful bids this round exceeded the available quota by 49 per cent, lower than the 12-month average for this category of 65 per cent.
Prevailing Quota Premium
The Prevailing Quota Premium is the amount to be paid for COE renewal and is computed from the moving average of the previous three-months of COE prices. Those looking to renew the COE on their cars will thus have to pay the following prices for the respective months.
Category
Prevailing Quota Premium
A
$56,670 (February)
B
$80,583 (February)
C
$43,284 (February)
This article was first published in sgCarMart.
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