November 2023 COE Results 1st Bidding: Cat B plunged by a whopping $40k, or over 26 percent, to close at $110k, Cat E plunged by almost $33k to close at $125k, while Cat A dropped back to five figures, $95,689
In the 1st COE bidding exercise for November 2023, Cat A closed at $95,689, Cat B at $110,001, Cat C at $78,001, Cat D at $10,889, and Cat E at $125,011.
Cat A (car up to 1600cc & 130bhp, and EV with up to 110kW) received 1,165 bids for 924 COEs and its premium decreased by $10,311. Category A COE closed at $95,689.
Cat B (car above 1600cc or 130bhp, and EV with more than 110kW) received 830 bids for 636 COEs and its premium decreased by $40,000. Category B COE closed at $110,001.
Cat C (goods vehicle and bus) received 281 bids for 190 COEs and its premium decreased by $6,789. Category C COE closed at $78,001.
Cat D (motorcycle) received 630 bids for 520 COEs and its premium decreased by of $312. Category D COE closed at $10,889.
Lastly, Cat E (all vehicles except motorcycle) received 227 bids for 141 COEs and decreased by $32,993. Category E COE closed at $125,011.
Commenting on these COE results, Jason Lim, managing director for BMW authorised agent Eurokars Auto, told Motorist: "Increased COE supply definitely helped, it was welcome news. Also, in the few weeks after Cars@Expo, it was relatively quiet on the retail front. And then probably, consumers adopted a wait-and-see approach, to see where this COE price correction would go."
Nicholas Wong, general manager of Honda authorised agent Kah Motor, told Motorist: "COE prices are influenced by demand and supply. It took three 'doses' of COE supply adjustment, to get the COE in check. Because those COE prices were unrealistic, the bubble was building. Cat B had six rounds of increases. Cat A responded to the first two 'doses', but there wasn't any additional quota supply for Cat B at the time."
Here is a summary of the 1st COE bidding exercise for November 2023:
Category |
Current COE |
Previous COE |
Difference |
PQP |
|---|---|---|---|---|
| A – car up to 1600cc & 130bhp, and EV up to 110kW | $95,689 | $106,000 |
– $10,311 |
$99,617 (Oct) $102,584 (Nov) |
| B – car above 1600cc or 130bhp, and EV above 110kW | $110,001 |
$150,001 |
– $40,000 |
$128,094 (Oct) $138,094 (Nov) |
| C – goods vehicle and bus | $78,001 | $84,790 |
– $6,789 |
$82,636 (Oct) $83,714 (Nov) |
| D – motorcycle | $10,889 | $11,201 |
– $312 |
$10,850(Oct) $11,094 (Nov) |
| E – all vehicles except motorcycle | $125,011 | $158,004 |
– $32,993 |
Not applicable |
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