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First COE Tender Results of May 2025 Showcase Mixed Market Sentiment
Singapore’s first Certificate of Entitlement (COE) bidding exercise for May 2025 concluded at 4:00 PM on 7 May, revealing varied outcomes across the different vehicle categories. The results reflect nuanced shifts in consumer demand, economic confidence, and regulatory impact on ownership trends.
Detailed Overview of COE Bidding Results
The latest bidding round produced the following results compared to the previous exercise:
| Category | Previous COE ($) | New COE ($) | Difference ($) | |
|---|---|---|---|---|
| A | (Cars ≤ 1,600cc & ≤ 97kW) | 99,500 | 103,009 | +3,509 |
| B | (Cars > 1,600cc or > 97kW) | 117,003 | 119,890 | +2,887 |
| C | Goods Vehicles & Buses | 65,001 | 62,590 | -2,411 |
| D | Motorcycles | 9,309 | 8,709 | -600 |
| E | Open Category (Excl. Motorcycles) | 118,001 | 118,889 | +888 |
Category Highlights and Implications
Category A continues to trend upward, with the premium rising to $103,009. This segment includes non-fully electric cars with engines not exceeding 1,600cc or 97kW, and fully electric vehicles up to 110kW (147bhp). The increase suggests steady demand in the mainstream car market despite broader economic concerns.
Category B, for larger or more powerful vehicles, also saw a moderate increase of $2,887 to $119,890. Premium cars and higher-end EVs likely continue to hold appeal among affluent buyers who remain less price-sensitive.
Category C posted a decline, with premiums falling by $2,411 to $62,590. This could point to reduced demand for commercial vehicles, possibly due to shifts in logistics operations or anticipation of upcoming policy changes.
Category D, covering motorcycles, dropped to $8,709. This $600 dip marks a continued downward trend, which may be linked to evolving preferences in urban transport or constraints affecting motorcyclist segments.
Category E, the open category which can be used for any vehicle type except motorcycles, saw a modest increase to $118,889, aligning with trends in the upper car market.
Understanding the COE Categories
Category A: Passenger cars with engine capacity ≤ 1,600cc and ≤ 97kW (130bhp), including fully electric cars up to 110kW (147bhp).
Category B: Passenger cars with engine capacity > 1,600cc or power > 97kW (130bhp), including electric cars > 110kW (147bhp).
Category C: Goods vehicles and buses.
Category D: Motorcycles of all capacities.
Category E: Open category for any vehicle type except motorcycles.
Where to Track Future COE Biddings
Motorists can stay updated on future COE exercises and vehicle ownership regulations via official channels: the Land Transport Authority and the One Motoring COE Portal.
As one of the core pillars of Singapore’s vehicle population policy, the COE system remains a critical gauge of public transport preferences, economic pressures, and sustainability goals. Fluctuations in premiums often reflect underlying shifts in both individual and corporate behaviour, particularly as the nation transitions towards greener mobility solutions.
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