COE Bidding Update – 23 July 2025 (2nd Tender)

The latest round of COE bidding for July 2025 has closed, and while some categories saw notable shifts, the overall market continues to hover at the same elevated levels we’ve seen in recent months. Same as the previous round, Cat A remained unchanged at $101,102, while Cat B and Cat E held steady around the $120,000 mark. Despite economic pressures and tightened consumer sentiment, bidding activity shows no signs of slowing down - a clear indication that demand remains strong, particularly for premium models and open-category flexibility.

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Let’s break down the numbers and highlight the key takeaways from this round.

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Category A (Cars ≤1600cc & 97kW)

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Premium remains at $101,102 - no change from the previous bidding.

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This marks the third time in a row Cat A has stayed flat at the six-figure mark. Despite cooling sentiment in other categories, entry-level cars are still seeing stable demand, likely propped up by family buyers and mainstream car models.

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PQP for August 2025: $100,473 (⬆️ up by $830)

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Category B (Cars >1600cc or 97kW)

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Premium drops to $119,101, a small dip of $499.

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After a short-lived spike earlier this month, Cat B has cooled slightly, though prices remain stubbornly high. Mid-range luxury models and continental cars continue to dominate this segment.

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PQP for August 2025: $117,542 (⬆️ up by $633)

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Category C (Goods Vehicles & Buses)

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Premium climbs to $68,600, rising by $1,911.

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This category saw the sharpest increase this round, reflecting stronger commercial fleet demand. Companies may be rushing to register vehicles before any policy changes kick in.

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PQP for August 2025: $64,678 (⬆️ up by $251)

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Category D (Motorcycles)

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Premium edges up to $9,511, an increase of $122.

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Motorcycle COEs continue their gradual upward trend. While still relatively affordable, it’s clear that demand remains steady among delivery riders and first-time buyers.

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PQP for August 2025: $8,986 (⬇️ down by $50)

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Category E (Open Category)

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Premium jumps to $120,000, up by $1,500.

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Open Category COEs continue to hover near their ceiling. With Cat B cars dominating Open Cat bids, this surge likely mirrors luxury buyer urgency.

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COE Trends and Key Takeaways

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The 23 July bidding exercise delivered few surprises - but what’s more telling is how stuck the market seems across most categories.

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• Cat A has now plateaued at $101,102 for three consecutive rounds. That consistency suggests that buyers and dealers may have found a new pricing comfort zone or are simply holding their breath for a shift that hasn’t come.
• Cat B’s minor dip of $499 feels more like a correction than a true softening of demand. With the August PQP still increasing, buyers who’ve been sitting on the fence may jump back in during the next round - especially if rumors of new luxury taxes resurface.
• Open Category premiums remain high, likely due to luxury buyers and parallel importers continuing to lean on this flexible option to secure cars quickly.
• Cat C’s sudden spike may indicate a short burst of fleet registration activity, possibly linked to end-of-month cutoffs or internal corporate targets.

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While the numbers didn’t move drastically, this round reinforced a key message: premiums are no longer volatile, but that doesn’t mean they’re affordable.

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What This Means for Car Owners

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Whether you’re planning to renew your COE or buy a new car, the message this round is clear: premiums may not be spiking, but they’re not easing either.

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For those with COEs nearing expiry, the steadily increasing PQP rates in August - especially in Cat B and E - may be your cue to act soon. While these increases are still manageable, any further upward movement could push renewals into less favourable territory.

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If you’re not renewing yet, it’s still a good time to make sure your vehicle is serviced and in top condition - especially for those holding out longer before deciding on a replacement.

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Looking Ahead: What Could Shift in the Next Bidding?

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With the National Day season approaching and school holidays on the horizon, there’s typically an uptick in private usage and dealership activity - but this hasn’t translated into surging COE prices so far.

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If Cat A holds its ground in the next round, we may be seeing a new equilibrium price point around the $100K mark - a psychological ceiling that’s slowly becoming the norm. Meanwhile, Cat B and E remain vulnerable to sudden jumps, especially with August PQPs continuing to rise.

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One thing’s for sure - COE premiums may not be crashing, but they’re far from stable. Smart buyers will continue watching not just the premiums, but the PQP trends, fleet registration behaviour, and policy updates from LTA.