The second round of Certificate of Entitlement (COE) bidding for July 2025 has concluded with mixed results across categories. While Category E (Open Category) surged to a new high of $120,000, Category B experienced a slight decline. These shifts signal continued volatility in the car ownership landscape in Singapore as supply tightens and post-election stability fuels long-term demand.
Table of Contents
Summary of July 2025 COE Results (2nd Bidding)
| COE Category | Quota Premium | Change from 1st Bidding | PQP (Jul/Aug) | Quota | Bids Received |
|---|---|---|---|---|---|
| CAT A (≤1600cc & 130bhp) | $101,102 | No change | $99,643 / $100,473 | 1,253 (±0) | 1,874 (–44) |
| CAT B (>1600cc or 130bhp) | $119,101 | ▼ $499 | $116,909 / $117,542 | 784 (+3) | 1,148 (–51) |
| CAT C (Goods Vehicle & Bus) | $68,600 | ▲ $1,911 | $64,427 / $64,678 | 271 (–20) | 405 (–27) |
| CAT D (Motorcycles) | $9,511 | ▲ $122 | $9,036 / $8,986 | 540 (+7) | 622 (–7) |
| CAT E (Open – All Except Motorcycle) | $120,000 | ▲ $1,500 | – | 211 (–1) | 431 (+47) |
Insights and Analysis
Category A: Stability Amid Uncertainty
The quota premium for Category A remained unchanged at $101,102, suggesting a stable demand despite economic caution. With no change in quota and a slight dip in bids (–44), this segment continues to reflect the baseline for entry-level car buyers.
Category B: Slight Retreat After Peak
Category B dropped slightly by $499, closing at $119,101. Despite a small quota increase (+3), the number of bids declined significantly (–51). This suggests a temporary cooling of demand, possibly due to buyers pausing after recent aggressive bidding rounds and high showroom prices.
Category C: Higher Logistics Costs Loom
Premiums for commercial vehicles under Category C rose by $1,911 to reach $68,600. The quota reduction (–20) coupled with lower bidding activity (–27) indicates price movement was primarily supply-driven. With the demand for logistics and fleet renewal rising, the trend could continue into Q3.
Category D: Steady Climb for Motorcycles
Motorcycle COEs edged up to $9,511, continuing their gradual climb. With more certificates available (+7) and slightly fewer bids (–7), the increase reflects sustained but controlled demand, possibly driven by cost-conscious commuters or gig economy workers.
Category E: Open Category Breaks $120K
The Open Category surged to $120,000—an increase of $1,500 from the previous round. Despite a slightly lower quota (–1), bids increased by 47, indicating strong demand for flexible-use COEs. This category is often used to register high-end cars, suggesting strong showroom traffic and forward bookings ahead of the National Day season.
What’s Influencing the COE Market?
- Post-Election Policy Stability
Following Singapore’s 2025 General Election, the re-elected government has maintained its stance on transport policy. While opposition parties proposed COE reforms, the new administration is focusing on broader cost-of-living measures, leaving the COE framework largely untouched for now. - Dealer Bidding Strategies
Dealers may be strategically securing certificates ahead of August and Q4 launches. The jump in CAT E bids points to forward-planning by showrooms anticipating festive promotions. - Supply Constraints Remain
While some quotas increased marginally, others fell. This tight supply environment continues to put upward pressure on prices, particularly for high-demand categories.
Outlook for August 2025 and Beyond
With Category B and E prices nearing historical highs, the cost of car ownership in Singapore remains significant. Prospective buyers should prepare for continued price pressure, especially if quotas remain limited. Conversely, those in the market for smaller cars or motorcycles may find some short-term stability.
The next bidding in August 2025 will be critical in determining whether these trends persist or if a wider correction is on the horizon.
