May 2025 COE Results 2nd Bidding: The COE snake stayed on the turbo highway, with Category A still speeding above $100k
In the second COE bidding exercise of May 2025, Cat A closed at $102,501; Cat B closed at $116,988; Cat C closed at $63,189; Cat D closed at $8,707; while Cat E closed at $118,010.
Cat A (car up to 1600cc & 130bhp, and EV with up to 110kW) received 1,915 bids for 1,267 COEs and its premium dipped by $508. Category A COE closed at $102,501.
Cat B (car above 1600cc or 130bhp, and EV with more than 110kW) received 1,093 bids for 782 COEs and its premium dipped by $2,902. Category B COE closed at $116,988.
Cat C (goods vehicle and bus) received 382 bids for 271 COEs and its premium increased by $599. Category C COE closed at $63,189.
Cat D (motorcycle) received 655 bids for 534 COEs and its premium decreased by only $2. Category D COE closed at $8,707.
Lastly, Cat E (all vehicles except motorcycle) received 387 bids for 206 COEs and dipped by $879. Category E COE closed at $118,010.
Motorist asked a few senior motor traders in the Alexandra dealership belt whether a six-digit Category A COE is the new normal for the industry.
Nicholas Wong, chief executive officer of Honda authorised agent Kah Motor, replied: “I hope not. We can see that the overall bids came down from the last round. This means, if market demand is weak, then the price should come down, but for how long, nobody knows. We need new injections of COE in the crowded Cat A segment.”
Anthony Teo, managing director of Vantage Automotive which sells new BYD and DENZA cars, told Motorist: ““The norm will be there, lah. The demand is still higher than the supply, so COE will be around that price.”
Ng Choon Wee, commercial director of Komoco Motors which represents Hyundai, said: “Cat A is overcrowded. The excess bids dropped from 900 to 600, but the price stayed above $100k, probably from orders which might have skipped the last bid. COE could trend downwards with small dips, I’m not expecting a huge drop.”
Ernest Tan, deputy CEO of Vincar Group which represents Aion, GAC and Proton in Singapore, was also optimistic - "I think COE will soften."
Soh Ming, managing director of Dongfeng Singapore, was less optimistic and perhaps more realistic when he told Motorist: "COE at $100k will be the new norm."
Here is a summary of the second COE bidding exercise for May 2025:
Category |
Current COE |
Previous COE |
Difference |
PQP |
|---|---|---|---|---|
| A – car up to 1600cc & 130bhp, and EV up to 110kW | $102,501 | $103,009 |
– $508 |
$92,064 (Apr 2025) $93,718 (May 2025) |
| B – car above 1600cc or 130bhp, and EV above 110kW | $116,988 |
$119,890 |
– $2,902 |
$114,787 (Apr 2025) $114,249 (May 2025) |
| C – goods vehicle and bus | $63,189 | $62,590 |
+ $599 |
$66,359 (Apr 2025) $66,428 (May 2025) |
| D – motorcycle | $8,707 | $8,709 |
– $2 |
$8,753 (Apr 2025) $9,165 (May 2025) |
| E – all vehicles except motorcycle | $118,010 | $118,889 |
– $879 |
Not applicable |
Next round of COE bidding starts on 2 June 2025 at 12pm, with the results out on 4 June 2025 at 4pm.
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