In the second Certificate of Entitlement bidding round for January, COE premiums rose across all car categories.
COE premiums rise to new highs across all categories

In the second round of bidding for January, Certificate of Entitlement (COE) prices rose across all categories to reach new highs.

The spike in COE premiums this month could have been motivated by the recently announced decrease in COE supply from February onwards, which we predicted in December of 2020. This may have prompted many to secure their new car purchases this month.

Get data on past COE bidding exercises at our COE bidding results page.

Premiums for Cat A, for cars up to 1,600cc in engine capacity and with an output of no more than 130bhp, increased by $2,892 (7.1%) and ended at $43,501 this bidding round.

Premiums for Cat A have not been this high since November of 2017, where they reached $46,791 in the second bidding round for that month. Premiums for the category now stand at 24.6% above the 12-month trailing average.

The number of unsuccessful bids this round exceeded the available quota by 36%. This figure has averaged 52% for Cat A in the last 12 months.

Premiums for Cat B, for larger cars with more than 130bhp or engine displacements larger than 1,600cc, likewise climbed upwards this bidding session. 

With premiums climbing by $1,099 (2.2%) and ending at $50,100, the current premium for Cat B is likewise also at new heights. The last time premiums for Cat B reached as high was also in November of 2017, where they reached $57,390 in the second bidding round of the month.

Premiums for the category now stand at 29.1% above the 12-month trailing average.

The total number of unsuccessful bids this round exceeded the quota available by 31%, which is lower than the 12-month average of 53%.

Premiums for Cat C, for goods vehicles and buses, increased by $5,099 (14.2%) to end at $40,999.

The number of unsuccessful bids this round exceeded the available quota by 76%, higher than the 12-month trailing average of 60%.

In Cat E, the open category, premiums rose by $2,411 (4.9%), closing at $51,900.

Premiums for Cat E have not been this high since May of 2019, where they reached $52,502 in the first bidding round for that month. Premiums for the category now stand at 34.4% above the 12-month trailing average.

The number of unsuccessful bids this round exceeded the available quota by 51%. The 12-month trailing average for this figure is 53%.

*The 12-month trailing average only takes into consideration the months wherein there was active COE bidding.

The Prevailing Quota Premium is the amount to be paid for COE renewal and is computed from the moving average of the previous three-months of COE prices. Those looking to renew the COE on their cars will thus have to pay the following prices for the respective months.