COE prices drop across the board except for commercial vehicles

In the second COE bidding exercise of February 2024, at the dragon's tail end of Chinese New Year, Cat A closed at $76,801; Cat B closed at $97,000; Cat C closed at $73,001; Cat D closed at $8,911; while Cat E closed at $94,006.

Cat A (car up to 1600cc & 130bhp, and EV with up to 110kW) received 1,909 bids for 937 COEs and its premium dipped by $2,199. Category A COE closed at $76,801.

Cat B (car above 1600cc or 130bhp, and EV with more than 110kW) received 1,034 bids for 649 COEs and its premium dipped by $5,338. Category B COE closed at $97,000.

Cat C (goods vehicle and bus) received 374 bids for 199 COEs and its premium increased by exactly $1,000. Category C COE closed at $73,001.

Cat D (motorcycle) received 689 bids for 548 COEs and its premium decreased by $379. Category D COE closed at $8,911.

Lastly, Cat E (all vehicles except motorcycle) received 271 bids for 158 COEs and dipped by $6,095. Category E COE closed at $94,006.

Jason Lim, managing director of BMW authorised agent Eurokars Auto, told Motorist: "The drop was expected due to the Chinese New Year long weekend, when a lot of people travelled out and things were a little bit quieter in the automotive belt."

Here is a summary of the second COE bidding exercise for February 2024:

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This article was first published in Motorist.