The second COE bidding exercise of 2024 has concluded, and the results reveal interesting insights into the market dynamics. In this article, we will delve into the bidding outcomes for different vehicle categories, analyzing the premiums, bids received, and the overall trends observed.
| Category | Current COE Price ($) | Quota | Bids Received | |
|---|---|---|---|---|
| A | CAR UP TO 1600cc | 81,589 | 923 | 1,880 |
| B | CAR OVER 1600cc | 112,000 | 657 | 1,308 |
| C | GOODS VEHICLE & BUS | 68,001 | 191 | 394 |
| D | MOTORCYCLE | 9,309 | 520 | 615 |
| E | OPEN-ALL EXCEPT MOTORCYCLE | 109,004 | 140 | 267 |
Cat A (cars up to 1600cc and 130bhp, and EVs up to 110kW) got 1,880 bids for 923 COEs, increasing its premium by $16,579. The Category A COE closed at $81,589.
Cat B (cars over 1600cc and 130bhp, and EVs over 110kW) got 1,308 bids for 657 COEs, increasing its cost by $26,990. The Category B COE concluded at $112,000.
Cat C (goods vehicle and bus) got 394 bids for 191 COEs, and the price increased by just $402. Category C COE ended at $68,001.
Cat D got 615 bids for 520 COEs, and its premium increased/decreased by just $195. The Category D COE concluded at $9,309.
Cat E received 267 bids for 140 COEs and increased by $2,616. The Category E COE concluded at $109,004.
Conclusion
In the second COE bidding exercise of 2024, the automotive landscape witnessed intriguing developments across various categories. Understanding these dynamics is crucial for both industry players and consumers. As we navigate the complex world of COE bidding, staying informed empowers us to make more informed decisions.