Singapore COE Premiums Show Mixed Trends November 2025
Executive Summary
November 2025 COE bidding exercises presented a mixed bag of results for prospective car buyers in Singapore. While Category B saw a significant surge in premiums, Category A experienced a slight dip, suggesting shifting demand patterns across vehicle segments. The Open Category (Cat E) also continued its upward trend, albeit with a more moderate increase.
Key Highlights
- Category B: Category B COE premiums experienced a significant 12.95% surge, climbing from $115,001 to $129,890.
- Category E: Category E (Open) premiums continued their upward trajectory, increasing by 3.30% to reach $125,001.
- Category A: Category A saw a slight 0.91% dip, moving from $110,002 to $109,000.
- Category C: Category C (Commercial Vehicles) recorded a marginal 0.51% increase, settling at $76,389.
First Bidding Exercise Results
| Vehicle Class | Quota | Bids Received | Bids Success | Premium (SGD) | Over-subscription % |
|---|---|---|---|---|---|
| Category A | 1,306 | 1,682 | 1,303 | $110,002 | 128.79% |
| Category B | 800 | 953 | 795 | $115,001 | 119.13% |
| Category C | 283 | 434 | 279 | $76,000 | 153.36% |
| Category D | 538 | 631 | 537 | $8,600 | 117.29% |
| Category E | 282 | 467 | 266 | $121,010 | 165.60% |
Second Bidding Exercise Results
| Vehicle Class | Quota | Bids Received | Bids Success | Premium (SGD) | Over-subscription % |
|---|---|---|---|---|---|
| Category A | 1,285 | 1,587 | 1,279 | $109,000 | 123.50% |
| Category B | 806 | 1,514 | 765 | $129,890 | 187.84% |
| Category C | 282 | 406 | 278 | $76,389 | 143.97% |
| Category D | 538 | 595 | 535 | $8,729 | 110.59% |
| Category E | 276 | 466 | 275 | $125,001 | 168.84% |
Detailed Analysis
The two bidding exercises in November 2025 presented divergent trends, with significant movements observed in key categories.
Bidding Competition
Over-subscription rates, which indicate the intensity of demand relative to the available quota, showed interesting shifts. Category E consistently saw the highest competition, with over-subscription rates around 165-169%. However, the most dramatic change was in Category B, where the over-subscription rate surged from 119.13% in the first exercise to a staggering 187.84% in the second. This intense competition clearly fueled the premium hike for larger cars. Category A and C saw a slight easing of competition, while Category D remained relatively stable.
Premium Movements
The price changes across categories painted a dynamic picture:
- Category A: From $110,002 to $109,000, a drop of $1,002 (-0.91%).
- Category B: From $115,001 to $129,890, a rise of $14,889 (12.95%).
- Category C: From $76,000 to $76,389, a rise of $389 (0.51%).
- Category D: From $8,600 to $8,729, a rise of $129 (1.50%).
- Category E: From $121,010 to $125,001, a rise of $3,991 (3.30%).
Category Performance
Category B was undoubtedly the headline-grabber, witnessing a substantial increase. This surge suggests strong and possibly pent-up demand for larger and more powerful vehicles, potentially influenced by buyers migrating from Category E or a general preference for premium cars.
Category A, catering to smaller cars, offered a glimmer of hope with a slight decrease. This could indicate a minor softening in demand or a shift in buyer preferences towards larger vehicles given the relative price points.
Category E (Open Category) continued its upward climb, reinforcing its status as a benchmark for high-end vehicle demand. Its consistently high premiums often reflect a willingness among buyers to pay more for flexibility or luxury.
Category C (Commercial Vehicles) premiums remained relatively stable with a marginal increase, indicating consistent but not aggressively growing demand from businesses.
Category D (Motorcycles) premiums, while seeing a slight uptick, continue to be the most affordable, reflecting a steady demand for two-wheelers.
What This Means for Car Buyers
The November 2025 COE results underscore the volatile nature of Singapore's car market.
- For Category A Buyers (Smaller Cars): While a slight dip offers minor relief, premiums remain high. Buyers should monitor upcoming quota announcements closely, as any increase could provide further downward pressure. Patience and a clear budget are crucial.
- For Category B Buyers (Larger Cars): The significant jump signals a highly competitive market. Be prepared for elevated prices. Consider if your budget can truly accommodate the higher premiums or if looking at pre-owned vehicles or slightly lower categories might be a viable alternative.
- For Commercial Vehicle Buyers (Category C): Prices are holding steady. Businesses should factor these stable, albeit still elevated, COE costs into their operational budgets and fleet renewal plans.
- For Motorcycle Buyers (Category D): COE for motorcycles remains the most accessible. Expect continued minor fluctuations, but it generally offers a more predictable entry point into vehicle ownership.
- General Outlook: The strong performance of Category B and E suggests continued demand for higher-end vehicles. Prospective buyers should anticipate sustained competition, especially for popular categories. Consider bidding strategically and having a firm financial plan in place. Staying informed about quota adjustments in the coming quarters will be key to understanding future market directions.
