Mixed Results: COE November 2023 2nd Bidding Results

‍'Tight Supply Situation'

Earlier this month, Minister for Transport Chee Hong Tat said that "More COEs will be brought forward from peak years to fill in the current supply troughs", however, Category A and B vehicles are still facing a "tight supply situation" as many have not reached the end of their COE lifespan and are not due for deregistration.

Quote Nicholas Wong, general manager of Honda authorised agent Kah Motor, “I think it’s very puzzling, Cat A dropped by $10k but Cat B went up by $25k, so now the gap is back to $50k. The gap was $15k. Cat B quota is still not enough, that’s why. We need more Cat B COEs to fill the gap because the demand is still strong.”

Good News for Middle-Income Singaporeans?

Given that Category A prices have dropped, middle-income Singaporean households may better afford if they need to own an entry-level car.

To determine if you can afford a car, SingTel has published an article to help readers determine the cost of owning a car in Singapore.

It includes COE prices, petrol costs, maintenance fees & more.