May 2025 COE Results 1st Bidding: The COE party continued to rally right after GE2025, with Cat A reaching a 30-week high of $103k, and Categories B and E also receiving more “votes”

In the first COE bidding exercise of May 2025, Cat A closed at $103,009; Cat B closed at $119,890; Cat C closed at $62,590; Cat D closed at $8,709; while Cat E closed at $118,889.

Cat A (car up to 1600cc & 130bhp, and EV with up to 110kW) received 2,240 bids for 1,267 COEs and its premium climbed by $3,509. Category A COE closed at $103,009.

Cat B (car above 1600cc or 130bhp, and EV with more than 110kW) received 1,210 bids for 813 COEs and its premium climbed by $2,887. Category B COE closed at $119,890.

Cat C (goods vehicle and bus) received 386 bids for 271 COEs and its premium decreased by $2,411. Category C COE closed at $62,590.

Cat D (motorcycle) received 676 bids for 536 COEs and its premium decreased by $600. Category D COE closed at $8,709.

Lastly, Cat E (all vehicles except motorcycle) received 384 bids for 207 COEs and climbed by $888. Category E COE closed at $118,889.

Anthony Teo, managing director of Vantage Automotive which sells new BYD and DENZA cars in Singapore, told Motorist: “Basically, it is not surprising that Categories A, B and E all went up. The demand is still strong if you look at the unsuccessful bids, coupled with Car Expo which just ended last weekend. As for the high Cat A premium, it is because of more and more brands having models in the Category, such as Tesla Model Y.”

Ernest Tan, deputy CEO of Vincar Group which represents Aion, GAC and Proton in Singapore, told Motorist: “I think we can attribute the Cat A COE result to The Car Expo and also the 1,000 unsuccessful bids from the last bidding exercise.”

Ng Choon Wee, commercial director of Komoco Motors which represents Hyundai in Singapore, told Motorist: “We expected the COE premium for Cat A and Cat B to be higher than the results, especially with Car Expo that was held over the polling weekend. While there were higher quotas for both categories, they are not sufficient to cater to the demand. With Cat A crossing the $100,000 mark, we expect the demand for Cat A to slow down. However, this overcrowded Category may continue to climb as there are brands with models in the $160,000 to $170,000 price range, which may attract buyers who need to purchase a car for their daily commute needs.”

Jason Lim, managing director of BMW authorised dealer Eurokars Auto, told Motorist: “The premiums are due to backlog of orders plus the Expo event, where we saw healthy order-taking.”

Corinne Chua, managing director of Volvo Car Singapore under Wearnes Automotive, told Motorist: “The demand is definitely because of Car Expo. The sales from these shows are usually quite strong.”

The general manager of a Leng Kee dealership concurred, telling Motorist that “the buyers were out at The Car Expo over the past weekend”.

Soh Ming, managing director of Dongfeng Singapore, had the last word: “The hike was definitely due to Car Expo, as expected. Based on our transactions, we see a lot of trade-in for cars from 2015 and 2016, which had the most number of registrations according to COE records. Owners of models from 2015 and 2016 are looking to change their vehicle right now, especially with so many exciting new EV offerings with premium features, like Dongfeng’s auto park, all available in Cat A. It’s an exciting time to think of changing new cars, with depreciation as low as $14k for EV with instant torque. As of now, my opinion is that COE at $100k level will be the norm and the public is accepting this fact. The increase in demand can also come from the increase in income, which also increases spending power.”

The Dongfeng Singapore MD concluded by saying: “Chicken rice from 10 years ago probably cost two dollars and it’s four dollars now. COE should be no different from that.”

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