COE Update – April 2nd Bidding Results (2025)

The latest COE bidding exercise on 23 April 2025 showed a mixed performance across different categories:

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• Cat A (Cars ≤1600cc & 97kW): Premiums rose slightly by $1,776, closing at $99,500.
• Cat B (Cars >1600cc or 97kW): Premiums fell by $896, ending at $117,003.
• Cat C (Goods Vehicles & Buses): A sharp drop of $3,781 brought premiums to $65,001.
• Cat D (Motorcycles): Premiums eased by $580 to $9,309.
• Cat E (Open Category): Prices increased by $999, reaching $118,001.

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The Open Category (Cat E) now stands at the highest premium, reflecting strong demand among buyers who want flexibility across vehicle types.

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Meanwhile, PQP (Prevailing Quota Premiums) for May 2025 have been adjusted, with Cat A and Cat C seeing minor increases, while Cat B's PQP eased slightly.

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Category A (Cars ≤1600cc & 97kW)

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In this bidding round, Category A premiums rose slightly by $1,776, closing at $99,500.

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Despite a strong bid volume of 2,121 bids against a quota of 1,139, the increase was relatively modest compared to previous fluctuations.

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This signals that demand for mainstream cars like the Toyota Corolla Altis, Honda Civic, and similar models remains steady, even with higher COE costs. Buyers are likely adjusting to the "new normal" of COE prices hovering around the $90k–$100k mark. The marginal uptick suggests that buyers who have been waiting for a dip might need to adjust their timelines, as current prices are stabilizing without significant drops in sight.

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Category B (Cars >1600cc or 97kW)

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Category B COE premiums dipped by $896, settling at $117,003 this round.

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Despite the decline, this category still commands a high premium, reflecting consistent interest in continental and higher-displacement models like the BMW 3 Series, Mercedes-Benz C-Class, and Audi A4.

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Interestingly, the number of bids (1,098) was close to the quota of 744, indicating a relatively balanced demand-supply ratio. The slight drop suggests that while demand remains strong, aggressive bidding may have eased off - possibly due to cautious optimism for further reductions.

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This may present a small window of opportunity for buyers eyeing a Category B vehicle, but the market remains volatile and highly sensitive to quota shifts.

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Category C (Goods Vehicle & Bus)

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Category C saw the largest drop this round, with premiums falling by $3,781 to $65,001.

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This is a significant reversal compared to earlier bidding exercises and could be attributed to a dip in commercial fleet demand or timing adjustments ahead of budget planning cycles.

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With only 260 COEs available and 399 bids, demand remains healthy but less aggressive than before. Some buyers may also be adopting a wait-and-see approach given the high volatility of this category over the past few months.

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This drop is good news for SMEs, logistics operators, and commercial fleet buyers, who may want to capitalise before premiums rebound.

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Category D (Motorcycles)

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Category D premiums, covering motorcycles, eased by $580, closing at $9,309.

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The number of bids (660) against the quota (519) shows continued interest from new riders and delivery fleet buyers. However, the small decrease reflects a market that is largely stabilised, with no major spikes or collapses compared to the sharp swings seen in previous years.

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For motorcycle buyers, current COE prices remain relatively steady, offering some predictability for those planning new purchases or fleet expansions.

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Category E (Open Category)

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Category E premiums increased slightly by $999, closing at $118,001.

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Despite the slight rise, the Open Category continues to hover near its recent high points, reinforcing its traditional role as a spillover category for buyers targeting luxury sedans, SUVs, and higher-end models.

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The number of bids submitted - 406 bids for 200 available COEs indicates that demand remains strong, especially among buyers who want flexibility to register either a Category B or premium Category A vehicle.

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The narrow price gap between Cat B and Cat E means some luxury car buyers may continue opting for Cat B directly, but Open Category COEs will likely remain in strong demand as quotas tighten.

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Our Take – What’s Driving These Changes?

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The April 2nd bidding exercise reflects a market that is cautious but stabilising.

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Several key factors appear to be influencing the current COE trends:

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• Steady Consumer Demand: Despite high prices, steady new model launches, parallel import activity, and replacement cycles are keeping the market active — particularly for Categories A and B.‍
• Quotas Still Tight: While COE quotas have expanded compared to the previous year, they remain limited. Bidding remains competitive, especially in the Continental and commercial vehicle segments.‍
• Upcoming Holiday Period: Buyers may be advancing purchases ahead of the June school holidays, traditionally a peak period for vehicle handovers.‍
• Economic Sentiment: Although interest rates remain relatively high, Singapore’s stable employment and income trends are sustaining car ownership aspirations, particularly among mid- to high-income households

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While there are slight corrections in Cat B and Cat C, the broader market shows resilience rather than a major softening. Buyers waiting for major drops in COE prices may need to recalibrate expectations for 2025.

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PQP Updates and Renewal Considerations

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With the latest bidding results in, the Prevailing Quota Premiums (PQP) for May 2025 have been updated as follows:

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• Cat A PQP (Cars ≤1600cc & 97kW): Increased slightly to $93,718.

• Cat B PQP (Cars >1600cc or >97kW): Adjusted downward to $114,249

• Cat C PQP (Goods Vehicles & Buses): Rose slightly to $66,428.

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If you are considering renewing your COE instead of purchasing a new vehicle, here are some key points to note:

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• Cat A owners face a modest increase, but the difference remains manageable for most renewal budgets.
• Cat B owners benefit slightly from the drop, making it a relatively favourable window for those looking to extend.
• Cat C owners should expect to pay a little more for renewal compared to the previous period.

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Given the upcoming quota tightening and expected price volatility later in the year, owners whose COEs are expiring within the next 6–12 months may want to consider early renewal to lock in current PQP rates.

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Go To Car Workshop in Singapore

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As COE premiums continue to shift, staying informed is crucial. Whether you're planning to renew, buy, or simply maintain your vehicle in peak condition.

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At BCC Automotive, we’ve spent the past 50 years helping Singapore drivers navigate every market cycle with confidence. Whether it’s a pre-purchase inspection, routine servicing, full diagnostics, or engine care packages like our LIQUI MOLY Servicing Package, we ensure your car gets the expert attention it deserves - with no guesswork, and no shortcuts.