November 2025 COE Results 2nd Bidding: The COE monster roared at the November rain and crawled upwards, along with premiums for all the Categories except Cat A, which went down by a token $1k

In the second COE bidding exercise of November 2025, Cat A closed at $109,000; Cat B closed at $129,890; Cat C closed at $76,389; Cat D closed at $8,729; while Cat E closed at $125,001.

Cat A (car up to 1600cc & 130bhp, and EV with up to 110kW) received 1,587 bids for 1,285 COEs and its premium dipped by merely $1,002. Category A COE closed at exactly, $109,000.

Cat B (car above 1600cc or 130bhp, and EV with more than 110kW) received 1,514 bids for 806 COEs and its premium climbed by $14,889. Category B COE closed at $129,890.

Cat C (goods vehicle and bus) received 406 bids for 282 COEs and its premium increased by $389. Category C COE closed at $76,389.

Cat D (motorcycle) received 595 bids for 538 COEs and its premium increased by $129. Category D COE closed at $8,729.

Lastly, Cat E (all vehicles except motorcycle) received 466 bids for 276 COEs and climbed by $3,991. Category E COE closed at $125,001.

Motorist asked a few senior motor traders whether Cat A COE has stabilised at this current level and Cat B COE might move some more in the final two bidding rounds of 2025.

Nicholas Wong, chief executive of Honda authorised agent Kah Motor, replied: “Cat A is still very high and there is room for further corrections. Cat B is a rebound from the previous dip of about $16k. We should see some stability soon, especially after end of the year when new VES kicks in.”

Ng Choon Wee, commercial director of Hyundai authorised agent Komoco Motors, added: “My observation is that Cat A remains weak, as its COE is still high. The number of excess bids was 20 percent less than previous round - 376 versus 302. I expect Cat A to remain soft for the final two bids of 2025.”

Anthony Teo, managing director of Vantage Automotive which sells BYD and DENZA in Singapore, told Motorist: “Cat B and Cat A was too close, so people could opt for Cat B car, that’s why its COE went up pretty high by around $14k - higher than the $5k to $7k we expected. Cat A seems to be quite stable, but then again, there are two more bids to go. COE for Cat B will probably inch up a bit, given the last two months to clear the year-end, when everybody usually needs to meet some targets set.”

Corinne Chua, managing director of Volvo Car Singapore, told Motorist: “I think A and B have more or less stabilised at this level. I didn’t expect such a big jump for B, though I know the market shifted to Cat B cars in the last two weeks after the gap between A and B narrowed.”

Jason Lim, managing director of BMW authorised dealer Eurokars Auto, said: “Buyer interest should shift back to Cat A now with the gap.”

Lee Hoe Lone, managing director of multi-brand Premium Automobiles (Zeekr, Xpeng, DEEPAL, AVATR), said: “With only two rounds of bidding remaining, VES changing and year-end sales target looming, there is a good chance Cat A will go up and Cat B will move up further or stay around this level.”

Soh Ming, managing director of Dongfeng Singapore by Volt Auto, told Motorist: “Three factors basically driving Cat B - small gap between Cat A and Cat B, final rush from hybrid buyers who are mostly in Cat B, and year-end sales.”

Vincent Ng, automotive consultant to Vincar (GAC, Aion, Hyptec, Proton), reckoned that “Cat A and B will equalise in the next round.”

Here is a summary of the second COE bidding exercise for November 2025: