In the second Certificate of Entitlement (COE) bidding exercise for October 2024, prices decreased across all categories, with the largest decline coming in Category B.

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 down by $899 to end the bidding exercise at $102,900.

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 down by $2,112 to end at $113,890.

Cat C, which are for goods vehicles and buses, saw prices went down by $2,070 to end the bidding exercise at $72,939.

Cat D, which are reserved for motorcycles, went down by $412 to close at $9,589.

Finally, Cat E, which is open to all vehicles except motorcycles, saw premiums go down by $1,300 to finish the exercise at $114,700.

Here's a summary of the second COE bidding exercise for October 2024:

*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.

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