February 2025 COE Results 1st Bidding: The COE snake slithers downwards, with premiums falling across the board except in Category D

Published by on . Updated on 6 Feb 2025
Editors%2 Fimages%2 F1738742542643 Feb 2025 Coe Results 1st Bidding The Coe Snake Slithers Downwards With Premiums Dropping Across The Board Except In Category D Featured
In the first COE bidding exercise of February 2025, Cat A closed at $85,000; Cat B closed at $111,104; Cat C closed at $62,506; Cat D closed at $8,289; while Cat E closed at $110,000.

Cat A (car up to 1600cc & 130bhp, and EV with up to 110kW) received 1,446 bids for 1,138 COEs and its premium dipped by $8,601. Category A COE closed at $85,000.

Cat B (car above 1600cc or 130bhp, and EV with more than 110kW) received 1,007 bids for 748 COEs and its premium dipped by $5,521. Category B COE closed at $111,104.

Cat C (goods vehicle and bus) received 394 bids for 260 COEs and its premium decreased by $2,970. Category C COE closed at $62,506.

Cat D (motorcycle) received 718 bids for 524 COEs and its premium increased by $568. Category D COE closed at $8,289.

Lastly, Cat E (all vehicles except motorcycle) received 369 bids for 199 COEs and dipped by $5,112. Category E COE closed at $110,000.

Ng Choon Wee, commercial director of Komoco Motors which represents Hyundai in Singapore, told Motorist: “There were fewer working days due to Chinese New Year. This was also the first round with more COEs, partly from the additional 20,000 certificates. There were more COEs available, yet the total bids received were less than in the last round. I would say, the bidding from dealers was more rational.”

Nicholas Wong, chief executive officer of Honda authorised agent Kah Motor, told Motorist: “The drop in premiums was inevitable given the short selling time and also the timely injection of more COEs from February onwards.”

Sabrina Sng, managing director of Polestar and Lotus under Wearnes Automotive, told Motorist: “The order take has been slow, perhaps because of CNY.”

A sales director at a major dealership in the Alexandra motor belt told Motorist: “Everyone was out for one week due to CNY. Everyone who needed to buy new cars already bought before CNY. The increased quota was another factor.”

The managing director of a popular German brand told Motorist: “Most of the orders from motorshow were already filled, plus the CNY effect, hence this reduction in quota premiums. Dealers and consumers might be waiting for Budget 2025 (February 18), that week’s COE bidding should be interesting.”

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

Category
Current COE
Previous COE
Difference
PQP
A – car up to 1600cc & 130bhp, and EV up to 110kW $85,000

$93,601

– $8,601
$97,747
(Jan 2025)
$94,513
(Feb 2025)
B – car above 1600cc or 130bhp, and EV above 110kW $111,104

$116,625


– $5,521
$109,164
(Jan 2025)
$110,537
(Feb 2025)
C – goods vehicle and bus $62,506

$65,476

– $2,970
$70,912
(Jan 2025)
$68,481
(Feb 2025)
D – motorcycle $8,289

$7,721

+ $568
$8,935
(Jan 2025)
$8,457
(Feb 2025)
E – all vehicles except motorcycle $110,000

$115,112

– $5,112
Not applicable

Next round of COE bidding starts on 17 February 2025 at 12pm, with the results out on 19 February 2025 at 4pm.


Read More: January 2025 COE Results 2nd Bidding: The COE snake lost some grip on its ladder before Chinese New Year, with premiums dropping across the board, especially in Categories D and E


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