The Certificate of Entitlement (COE) prices in Singapore for April 2025 have shown mixed trends in the two bidding rounds, reflecting the dynamic nature of the car market. With the second bidding round concluding on April 23, 2025, this analysis dives into the latest COE price changes, category-specific shifts, and what these trends mean for car buyers and dealers.
Whether you’re planning to buy a car or renew your COE, understanding these fluctuations is key to making informed decisions.
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April 2025 2nd COE Bidding Results: A Snapshot
The COE system in Singapore regulates vehicle ownership by requiring buyers to bid for a certificate valid for 10 years. The April 2025 bidding exercises—held on the 1st and 2nd rounds—saw varied price movements across categories.
Below are the detailed results for both rounds, highlighting Quota Premiums, Changes, Prevailing Quota Premiums (PQP), Quotas, and Bids Received.
April 2025 2nd COE Bidding Results
| COE Category | Quota Premium | Change | PQP | Quota | Bids Received |
|---|---|---|---|---|---|
| CAT A (Cars ≤ 1600cc & 130bhp, or 110kW) | $99,500 | ▲ $1,776 | $92,064 (Apr) / $93,718 (May) | 1,139 (+1) | 2,121 (-41) |
| CAT B (Cars > 1600cc or 130bhp, or 110kW) | $117,003 | ▼ $896 | $114,787 (Apr) / $114,249 (May) | 744 (-16) | 1,998 (+798) |
| CAT C (Goods Vehicle & Bus) | $65,001 | ▼ $3,781 | $66,359 (Apr) / $66,428 (May) | 260 (-7) | 399 (+17) |
| CAT D (Motorcycle) | $9,309 | ▼ $580 | $8,753 (Apr) / $9,165 (May) | 519 (+2) | 660 (+57) |
| CAT E (Open – All Except Motorcycle) | $118,001 | ▲ $999 | – | 200 (±0) | 406 (+16) |
Key Trends in COE Price Changes: April 2025
The April 2025 COE bidding rounds reveal several notable trends across categories:
- CAT A (Smaller Cars): The Quota Premium rose significantly from $77,724 in the 1st bidding to $99,500 in the 2nd bidding. The “Change” indicates an increase of $1,776 in the 2nd round, reflecting heightened demand or market pressures. Bids Received dropped slightly (-41), while Quota saw a minor increase (+1).
- CAT B (Larger Cars): The Quota Premium decreased slightly from $117,989 to $117,003, with a “Change” showing a decrease of $896, offering some relief for buyers of larger cars. However, demand surged, with Bids Received jumping by +798, despite a reduced Quota (-16).
- CAT C (Goods Vehicles & Buses): Prices fell from $68,782 to $65,001, with a “Change” of ▼ $3,781, a significant drop that benefits commercial vehicle buyers. Quota decreased (-7), but Bids Received increased (+17), reflecting sustained demand.
- CAT D (Motorcycles): The Quota Premium dropped from $9,889 to $9,309, with a “Change” of ▼ $580, making motorcycles more affordable. Quota slightly increased (+2), and Bids Received rose (+57), showing growing interest in this category.
- CAT E (Open Category): The Quota Premium rose from $117,002 to $118,001, with a “Change” indicating an increase of $999, suggesting higher competition in this flexible category. Quota remained stable (±0), while Bids Received increased (+16).
Factors Influencing COE Price Changes
Several factors contribute to these COE price fluctuations:
- Supply and Demand Dynamics: The Land Transport Authority (LTA) adjusts COE quotas quarterly. The February to April 2025 quota increased by 8% to 17,133, as noted in earlier reports. However, demand remains high, particularly for CAT A and CAT E, where prices increased in the 2nd bidding.
- Economic Conditions: Rising demand for electric vehicles (EVs) and economic factors like inflation continue to pressure COE prices, especially in categories like CAT A and E, which include EVs and are seeing price increases.
- Dealership Strategies: Dealers often adjust car prices based on COE trends. The price drops in CAT B, C, and D may encourage showroom visits, while the increases in CAT A and E could deter buyers in those categories.
What These Changes Mean for Car Buyers
For prospective buyers, the mixed results in April 2025 offer both opportunities and challenges:
- Smaller Cars (CAT A): The $1,776 increase to $99,500 in the 2nd round signals a challenging market for smaller car buyers. With prices nearing $100,000, buyers may want to consider waiting for the next bidding on May 5, 2025, or explore COE renewal options.
- Larger Cars (CAT B): The $896 decrease to $117,003 offers some relief, though prices are still high. With demand spiking (1,998 bids), this category remains competitive, but the price drop might make it a good time to bid.
- Motorcycles (CAT D): The $580 drop to $9,309 continues to be encouraging for riders, especially with a slight quota increase. Now might be an opportune time to bid for a motorcycle COE.
- COE Renewal Option: If your vehicle’s COE is expiring, renewing at the PQP (e.g., $93,718 for CAT A in May) could be more cost-effective than bidding for a new COE, especially in high-demand categories like CAT A and E where prices are rising.
Future Outlook for COE Prices
Looking ahead, COE prices may remain volatile. The LTA’s phased injection of 20,000 additional COEs starting February 2025 aims to ease supply constraints, but rising EV demand and economic factors could keep premiums elevated, especially in CAT A and E. Industry experts suggest that while supply increases may temper prices in the long term, short-term fluctuations will persist due to strong demand.
Conclusion
The April 2025 COE bidding results highlight the complex interplay of supply, demand, and market sentiment in Singapore’s car market. While categories like CAT B, C, and D saw price decreases in the 2nd bidding, offering opportunities for buyers, the increases in CAT A and E signal caution for those eyeing smaller cars or the open category.
Whether you’re a first-time buyer or renewing your COE, understanding these trends can help you navigate the market effectively. Stay tuned for the next bidding round to see if these patterns hold.
