COE Results — May 2024 Ex 2

COE Prices — May 2024 Ex 2

Bidding Date: Wednesday, 15 May 2024

Category	Vehicle Type	COE Price (QP)	Change vs Previous
Cat A	Cars ≤ 1,600cc & 130bhp (or 110kW)	$92,700	↓ -$904
Cat B	Cars > 1,600cc or 130bhp (or 110kW)	$105,689	↑ +$687
Cat C	Goods Vehicles & Buses	$72,001	↑ +$2,000
Cat D	Motorcycles	$9,311	↓ -$192
Cat E	Open (All Vehicle Types)	$105,002	↑ +$313

Quota & Bidding Activity

Category	Quota	Bids Received	Successful Bids	Competition Ratio
Cat A	983	1444	980	1.47×
Cat B	658	1099	641	1.67×
Cat C	207	382	198	1.85×
Cat D	526	604	523	1.15×
Cat E	178	295	176	1.66×

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

What Stood Out

• Biggest mover: Cat C, +2.9%. Overall, 3 of 5 categories rose and 2 fell.
• Unusual: the Open category ($105,002) closed below Cat B ($105,689). Cat E can be used for any vehicle, so it normally sits at or above Cat B.
• Most contested: Cat C, with 1.85 bids for every COE available.

Category by Category

Cat A (small cars) dipped $904 (−1.0%) to $92,700. A year earlier, in May 2023 Ex 2, it was $92,000, so the premium is 0.8% higher year on year. That puts it in the upper part of its 12-month range of $65,010 to $106,000.

Cat B (large cars) inched up $687 (+0.7%) to $105,689. That is its 5th rise in a row. It is the highest Cat B premium since Jan 2024 Ex 2 ($112,000). A year earlier, in May 2023 Ex 2, it was $113,034, so the premium is 6.5% lower year on year.

Cat E (open category) inched up $313 (+0.3%) to $105,002. That is its 6th rise in a row. It is the highest Cat E premium since Jan 2024 Ex 2 ($109,004). A year earlier, in May 2023 Ex 2, it was $125,000, so the premium is 16.0% lower year on year.

Cat C (goods vehicles) rose $2,000 (+2.9%) to $72,001. That is its 3rd rise in a row. A year earlier, in May 2023 Ex 2, it was $77,501, so the premium is 7.1% lower year on year. That puts it in the lower part of its 12-month range of $67,501 to $85,900.

Cat D (motorcycles) fell $192 (−2.0%) to $9,311. That is its 3rd fall in a row. A year earlier, in May 2023 Ex 2, it was $10,602, so the premium is 12.2% lower year on year. That puts it in the lower part of its 12-month range of $8,911 to $11,501.

Bidding Competition

Bidding competition in every category was close to its usual level for the past year.

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

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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.