December 2025 COE Results 1st Bidding: The COE monster wanted to clear its annual leave, but was interrupted by the mostly downward price movements in the second-last COE bidding exercise of this year

In the first COE bidding exercise of December 2025, Cat A closed at $105,413; Cat B closed at $123,900; Cat C closed at $76,501; Cat D closed at $8,289; while Cat E closed at $123,000.

Cat A (car up to 1600cc & 130bhp, and EV with up to 110kW) received 1,557 bids for 1,280 COEs and its premium dipped by $3,587. Category A COE closed at $105,413.

Cat B (car above 1600cc or 130bhp, and EV with more than 110kW) received 1,096 bids for 802 COEs and its premium dipped by $5,990. Category B COE closed at $123,900.

Cat C (goods vehicle and bus) received 370 bids for 286 COEs and its premium increased by $112. Category C COE closed at $76,501.

Cat D (motorcycle) received 627 bids for 534 COEs and its premium decreased by $440. Category D COE closed at $8,289.

Lastly, Cat E (all vehicles except motorcycle) received 544 bids for 291 COEs and dipped by $2,001. Category E COE closed at exactly $123,000.

Several senior motor traders gazed into their Leng Kee LED crystal ball and shared with Motorist their predictions on how the upcoming final COE bidding round of 2025 may go. 

Lee Hoe Lone, managing director of Premium Automobiles which represents four Chinese EV brands in Singapore (Zeekr, Xpeng, DEEPAL, AVATR), told our Motorist editor: “My guess is, stay or further drop. I can gauge better after this weekend (Dec 6-7). Sales should pick up a bit but not crazy, plus a lot of people are travelling. I’m in Africa now.”

A few other executives also predicted cheaper COEs as this year approaches the end of its 12-month road in December. 

Ng Choon Wee, commercial director of Hyundai authorised agent Komoco Motors, said: “I doubt the COE will maintain at this level, unless there’s aggressive bidding.”

Nicholas Wong, chief executive officer of Honda authorised agent Kah Motor, said: “Many cars cannot make it for this year registration, so no point to chase after it, and pressure on prices will continue to ease till end of 2025.”

A Leng Kee dealership’s general manager said: “Looks like a downtrend, hopefully better for the market.”

Ernest Tan, deputy CEO of Vincar Group, said: “I think it will soften a bit more.” 

Automotive consultant Vincent Ng, who assists Vincar with GAC, Aion and Hyptec, declared: “Cat A below $100k.”  

Less optimistic, however, was Soh Ming, managing director of Dongfeng Singapore by Volt Auto. After telling Motorist that “Year-end sales are normally expected to fall as it is a travelling season due to holiday”, he added that “I would expect Cat B to spike, as it is the last bid before the incentive change for hybrid and higher-OMV vehicles which are in the Cat B segment.” 

Anthony Teo, managing director of Vantage Automotive which distributes BYD and DENZA cars in Singapore, said: “I feel that the final bidding will be the same as the current bid or go up slightly, because traffic will increase in showrooms and dealers need to meet their year-end target.”

Corinne Chua, managing director of Volvo Car Singapore, predicted marginal movement in COE prices for the next round - “Should be around current (levels), as the demand is lukewarm and a lot of people are travelling.”

Dongfeng Singapore MD Soh Ming took a wider view and told Motorist: “The next bid would be an indicator of the buying power in consumers moving into 2026. As we know, it’s the time of 'New Year, New Car' mentality, as well as bonus and promotions, which will be able to fuel the urge to buy as well.”

Here is a summary of the first COE bidding exercise for December 2025: