On 5 April 2023, the latest bidding exercise closed with the Certificate of Entitlement (COE) prices increasing in three of five vehicle categories, with Category A and B prices reaching new records for the second consecutive time.

Prices closed at S$96,501 for Category A vehicles, which include cars with capacities up to 1,600 cc and 130 horsepower, or electric vehicles (EVs) up to 110 kW – an increase over the previous high price of $93,503 set during the last bidding round on 22 March. Likewise, prices rose to a new record of $118,501 for Category B cars over 1,600 cc and 130 bhp, as well as EVs above 110kW.

There was also a new high for COEs in the open category, which can be used for any vehicle type, but are often used to purchase large cars. The COE for this round of bidding rose to $118,001. There is no change in the price of motorcycle premiums, or Category D vehicles, at $12,001.

Meanwhile, COE for Category C, which can be used for commercial vehicles such as goods vehicles and buses, reduced by S$8,588 to S$76,801.

A total of 2,199 bids were made for the 1,592 COEs available in this latest bidding exercise.
On 20 January, the Land Transport Authority (LTA) announced a new method for calculating COE bids in February 2023. Using a revised method of calculating available COEs for bidding, the new quota system aims to reduce supply volatility.

COE Bidding Results – Apr 2023
COE Category	CAT A	CAT B	CAT C	CAT E
	Cars ≤ 1,600cc & 130bhp, or 110kW	Cars > 1,600cc or 130bhp, or 110kW	Goods Vehicle & Bus	Open
Result	$96,501	$118,501	$76,801	$118,990

The next bidding exercise will be on the 19th April 2023.