Oct 10, 2024
The first Certificate of Entitlement (COE) bidding exercise for October 2024 saw premiums increase across all categories, with Category A going past the $100,000 mark for the first time since last October.
Cat A COEs, which are used for cars with internal combustion engines (ICEs) of up to 1,600cc in capacity and have a power output of less than 130hp, as well as electric cars with a power output of up to 110kW, went up by $5,275 to end the bidding exercise at $103,799.
Cat B COEs, which are used for ICE cars that exceed 1,600cc in capacity or have more than 130hp, and electric cars with over 110kW, saw premiums going up by $6,001 to end at $116,002.
Cat C, which are for goods vehicles and buses, saw prices go up by $1,009 to end the bidding exercise at $75,009.
Cat D, which are reserved for motorcycles, went up $101 to close at $10,001.
Finally, Cat E, which is open to all vehicles except motorcycles, saw premiums go up by $2,896 to finish the exercise at $116,000.
Here's a summary of the first COE bidding exercise for October 2024:
| Category | Current COE | Previous COE | Difference | PQP* |
| A | $103,799 | $98,524 | +$5,275 | $94,351 (Oct) |
| B | $116,002 | $110,001 | +$6,001 | $104,866 (Oct) |
| C | $75,009 | $74,000 | +$1,009 | $72,018 (Oct) |
| D | $10,001 | $9,900 | +$101 | $9,434 (Oct) |
| E | $116,000 | $113,104 | +$2,896 | Not applicable |
*PQP, or Prevailing Quota Premium, is the moving average of COE prices in the last 3 months, and denotes the amount payable in order to renew a car's COE at the end of its tenure.
