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COE Premiums Mostly Ease in May 2025’s Second Tender Exercise
Singapore’s second Certificate of Entitlement (COE) bidding exercise for May 2025 closed at 4:00 PM on 21 May, with a general softening in premiums across most vehicle categories. The results point towards a cooling in demand or strategic bidding by buyers amid evolving vehicle ownership trends in the city-state.
Breakdown of COE Results
Here is a side-by-side comparison of the current and previous bidding outcomes:
| Category | Previous COE ($) | New COE ($) | Difference ($) | |
|---|---|---|---|---|
| A | (Cars ≤ 1,600cc & ≤ 97kW) | 103,009 | 102,501 | -508 |
| B | (Cars > 1,600cc or > 97kW) | 119,890 | 116,988 | -2,902 |
| C | Goods Vehicles & Buses | 62,590 | 63,189 | +599 |
| D | Motorcycles | 8,709 | 8,707 | -2 |
| E | Open Category (Excl. Motorcycles) | 118,889 | 118,010 | -879 |
Understanding the Categories
Category A: Encompasses non-fully electric cars with engine capacities up to 1,600cc and a maximum power output not exceeding 97kW (130bhp), as well as fully electric cars with power up to 110kW (147bhp).
Category B: Covers non-fully electric cars exceeding 1,600cc or 97kW, and fully electric vehicles with power above 110kW.
Category C: Reserved for goods vehicles and buses.
Category D: For motorcycles.
Category E: Open category, usable for any vehicle type except motorcycles.
Market Signals and Potential Factors
The modest dip in COE prices in Categories A, B, D, and E suggests either a more cautious approach by dealers and buyers or a short-term decrease in demand. Category C was the exception, registering a marginal rise of $599, which may indicate increased logistics and commercial transport demand.
Industry observers note that while the decreases are not drastic, they may reflect underlying shifts such as anticipated policy changes, seasonal demand variations, or broader economic sentiment among vehicle buyers.
Staying Informed on COE Developments
For those interested in the finer details of COE prices and their historical trends, the Land Transport Authority (LTA) provides comprehensive information on their dedicated page, which can be accessed here. The source of this data is the Land Transport Authority, and further details can be found on their official page here.
The next round of bidding is expected to follow in early June 2025, where market watchers will be looking for signs of continued price moderation or a rebound in COE premiums.
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