COE Results — May 2023 Ex 2

COE Prices — May 2023 Ex 2

Bidding Date: Wednesday, 17 May 2023

Category	Vehicle Type	COE Price (QP)	Change vs Previous
Cat A	Cars ≤ 1,600cc & 130bhp (or 110kW)	$92,000	↓ -$9,001
Cat B	Cars > 1,600cc or 130bhp (or 110kW)	$113,034	↓ -$6,365
Cat C	Goods Vehicles & Buses	$77,501	↑ +$1,912
Cat D	Motorcycles	$10,602	↑ +$5,600
Cat E	Open (All Vehicle Types)	$125,000	↑ +$998

Quota & Bidding Activity

Category	Quota	Bids Received	Successful Bids	Competition Ratio
Cat A	596	936	588	1.57×
Cat B	480	713	480	1.49×
Cat C	72	148	70	2.06×
Cat D	571	1438	562	2.52×
Cat E	125	301	104	2.41×

Competition ratio = bids received ÷ quota available. A ratio above 1.5× indicates high demand for that category.

What Stood Out

• Biggest mover: Cat D, +112.0%. Overall, 3 of 5 categories rose and 2 fell.
• Record: Cat E set a new high for our records (since July 2017).
• Most contested: Cat D, with 2.52 bids for every COE available.
• Supply: the total quota grew +13.1% to 1,844 COEs.

Category by Category

Cat A (small cars) dropped $9,001 (−8.9%) to $92,000. A year earlier, in May 2022 Ex 2, it was $68,001, so the premium is 35.3% higher year on year. That puts it in the upper part of its 12-month range of $68,001 to $103,721.

Cat B (large cars) dropped $6,365 (−5.3%) to $113,034. It is the lowest Cat B premium since Feb 2023 Ex 1 ($105,524). A year earlier, in May 2022 Ex 2, it was $95,889, so the premium is 17.9% higher year on year.

Cat E (open category) inched up $998 (+0.8%) to $125,000. It is the highest Cat E premium in our records, which begin in July 2017. A year earlier, in May 2022 Ex 2, it was $95,901, so the premium is 30.3% higher year on year.

Cat C (goods vehicles) rose $1,912 (+2.5%) to $77,501. A year earlier, in May 2022 Ex 2, it was $51,501, so the premium is 50.5% higher year on year. That puts it in the upper part of its 12-month range of $51,501 to $91,101.

Cat D (motorcycles) jumped $5,600 (+112.0%) to $10,602. A year earlier, in May 2022 Ex 2, it was $9,490, so the premium is 11.7% higher year on year. That puts it in the upper part of its 12-month range of $5,002 to $13,189.

Bidding Competition

Cat E drew 2.41 bids per COE, well above its 12-month average of 1.76. Some COEs went unallocated: Cat E (21 of 125). Unallocated COEs are added to the next exercise’s quota. The Cat A quota rose +25.7% to 596 from the previous exercise. The Cat B quota rose +17.1% to 480 from the previous exercise.

New to COE bidding? Read how COE bidding works and what each COE category covers.

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Browse results: ← May 2023 Ex 1 · Jun 2023 Ex 1 →

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Results sourced from LTA/Singapore government data via the Steer SG data pipeline. This is an informational service. We are not affiliated with LTA, Singapore government, or any car dealer.