COE premiums dip across all categories in 2nd bidding exercise for October 2024
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PUBLISHED ONOctober 23, 2024 8:27 AMByTan Jia Jun
In the second Certificate of Entitlement (COE) bidding exercise for October 2024, prices decreased across all categories, with the largest decline coming in Category B.
Cat A COEs, which are used for cars with internal combustion engines (ICEs) of up to 1,600cc in capacity and have a power output of less than 130hp, as well as electric cars with a power output of up to 110kW, went down by $899 to end the bidding exercise at $102,900.
Cat B COEs, which are used for ICE cars that exceed 1,600cc in capacity or have more than 130hp, and electric cars with over 110kW, saw premiums going down by $2,112 to end at $113,890.
Cat C, which are for goods vehicles and buses, saw prices went down by $2,070 to end the bidding exercise at $72,939.
Cat D, which are reserved for motorcycles, went down by $412 to close at $9,589.
Finally, Cat E, which is open to all vehicles except motorcycles, saw premiums go down by $1,300 to finish the exercise at $114,700.
Here's a summary of the second COE bidding exercise for October 2024:
| Category | Current COE | Previous COE | Difference | PQP* |
| A | $102,900 | $103,799 | -$899 | $94,351 (Oct) $98,317 (Nov) |
| B | $113,890 | $116,002 | -$2,112 | $104,866 (Oct) $109,698 (Nov) |
| C | $72,939 | $75,009 | -$2,070 | $72,018 (Oct) $73,242 (Nov) |
| D | $9,589 | $10,001 | -$412 | $9,434 (Oct) $9,701 (Nov) |
| E | $114,700 | $116,000 | -$1,300 | Not applicable |
*PQP, or Prevailing Quota Premium, is the moving average of COE prices in the last 3 months, and denotes the amount payable in order to renew a car's COE at the end of its tenure.
jiajun.tan@asiaone.com
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