September 2025 COE Results 1st Bidding: The COE snake still vaped like there’s no tomorrow, with premiums for the car Categories at a new high again

In the first COE bidding exercise of September 2025, Cat A closed at $107,889; Cat B closed at $127,501; Cat C closed at $71,556; Cat D closed at $9,101; while Cat E closed at $127,901.

Cat A (car up to 1600cc & 130bhp, and EV with up to 110kW) received 1,844 bids for 1,275 COEs and its premium climbed by $3,365. Category A COE closed at $107,889.

Cat B (car above 1600cc or 130bhp, and EV with more than 110kW) received 1,186 bids for 790 COEs and its premium climbed by $3,101. Category B COE closed at $127,501.

Cat C (goods vehicle and bus) received 401 bids for 283 COEs and its premium decreased by $634. Category C COE closed at $71,556.

Cat D (motorcycle) received 633 bids for 540 COEs and its premium increased by $292. Category D COE closed at $9,101.

Lastly, Cat E (all vehicles except motorcycle) received 489 bids for 256 COEs and climbed by $2,900. Category E COE closed at $127,901.

Ron Lim, head of sales and marketing at Nissan authorised agent Tan Chong Motor, told Motorist: “I think dealers, including PHV (players), are just biting the bullet to secure the COEs for whatever deals or replacement needs they have, as the market is expecting COE prices to continue surging. So, today’s new record high didn’t come as a surprise.”

Soh Ming, managing director of Dongfeng by Volt Auto whose Box electric hatchback has been selling very well in Singapore, told Motorist: “It’s the rush-in before EEAI (EV Early Adoption Incentive) ends and, also, many distributors are likely trying to hit their target, so they might be throwing in extra deals to make it happen.”

Echoing Soh Ming’s sentiment about a consumer scramble, Komoco Motors Hyundai commercial director Ng Choon Wee told Motorist that “Some customers speculate that EEAI and VES A1 rebate will be reduced, this might have triggered some EV prospects to rush in to buy now.”

Nicholas Wong, chief executive officer of Honda authorised agent Kah Motor, felt that “LTA strategy to stabilise COE supply is obviously not helping to curb prices, with not enough supply due to the cutback in replacement COEs coming into the quota, which will only mean the pressure on prices will continue to be strong.” 

Anthony Teo, managing director of Vantage Automotive which distributes BYD and DENZA in Singapore, told Motorist: “The Cat A COE premium has gone up mainly due to the strong demand from the market, as well as, we believe, there are some fleet owners renewing their fleet.”

Corinne Chua, managing director of Volvo Car Singapore, told Motorist: “I think a lot of customers were sitting on the fence and waiting for COE to come down, but it has been increasing in every round and they decided not to wait anymore, especially those with cars close to 10 years old.” 

The increasingly busy “multi-storey” of new models in Category A was another factor. 

Volvo MD Corinne mentioned “a lot of new entrants to the market”; Nissan sales head Ron referred to “the relentless entry of new brands and models”; while Eurokars BMW MD Jason Lim talked about “intense Cat A competition”. 

Will the COE snake still vape like there’s no tomorrow in the coming months?

Ernest Tan, deputy CEO of Vincar Group which represents Aion, GAC and Proton in Singapore, said: “I think people are getting used to COE being at this price.”

Dongfeng MD Soh Ming said: “COE will continue to be on an upward trend, especially with Car Expo around the corner (September 27-28).”

Nissan’s Ron Lim said: “It’s likely that more new highs will be set.”

One general manager in the Leng Kee motor belt predicted: “130k soon, I reckon.”

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