COE premiums fall across all categories in first November bidding exercise

Certificate of Entitlement (COE) premiums in Singapore closed lower across all categories in the latest bidding exercise on 5 November 2025, according to the Land Transport Authority (LTA).

For Category A cars—those with engines of 1,600cc and below and horsepower not exceeding 130bhp—premiums fell by 9.8 per cent, closing at S$110,002 (US$84,000) compared with S$122,000 in the previous round.

Category B premiums, covering larger and more powerful cars, dropped 12.8 per cent to S$115,001 from S$131,889 previously.

The fall represents one of the sharper declines in recent months for higher-end vehicles.

For commercial vehicles, which include goods vehicles and buses, premiums eased slightly by 1 per cent, closing at S$76,000, down from S$76,801 in the last bidding exercise.

Motorcycle premiums also saw a notable drop of 8.4 per cent, closing at S$8,600, compared with S$9,389 previously.

Meanwhile, Open Category COEs—typically used for larger and luxury cars—fell 11 per cent to S$121,010 from S$136,000.

A total of 4,167 bids were submitted in the exercise, with 3,209 COEs available.

This marks the first tender under the new quota for the November 2025 to January 2026 period. The total COE supply for this quarter increased by 1.5 per cent, representing the smallest quarterly rise in recent times.

Transport analysts noted that the price correction follows several months of volatility in the COE market. The combination of a modest increase in available quotas and buyer fatigue after sustained high prices has likely contributed to the easing of premiums.

Industry observers expect demand to remain cautious in the coming weeks as car buyers monitor whether this downward trend continues. Some potential buyers may delay purchases in anticipation of further price adjustments.

The next COE bidding exercise is scheduled for mid-November, when market reactions to the new quota and recent price movements will become clearer.