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Prices fell in most categories once more in the first Certificate of Entitlement (COE) bidding exercise for February 2025, with only motorcycle COEs seeing a slight increase.
Cat A COEs, which are used for cars with internal combustion engines (ICEs) of up to 1,600cc in capacity and have a power output of less than 130hp, as well as electric cars with a power output of up to 110kW, went down by $8,601 to end the bidding exercise at $85,000.
Cat B COEs, which are used for ICE cars that exceed 1,600cc in capacity or have more than 130hp, and electric cars with over 110kW, saw premiums going down by $5,521 to end at $111,104.
Cat C, which are for goods vehicles and buses, saw prices went down by $2,970 to end the bidding exercise at $62,506.
Cat D, which are reserved for motorcycles, went up by $568 to close at $8,289.
Finally, Cat E, which is open to all vehicles except motorcycles, saw premiums go down by $5,112 to finish the exercise at $110,000.
Here's a summary of the first COE bidding exercise for February 2025:
| Category | Current COE | Previous COE | Difference | PQP* |
| A | $85,000 | $93,601 | -$8,601 | $94,513 (Feb) |
| B | $111,104 | $116,625 | -$5,521 | $110,537 (Feb) |
| C | $62,506 | $65,476 | -$2,970 | $68,481 (Feb) |
| D | $8,289 | $7,721 | +$568 | $8,457 (Feb) |
| E | $110,000 | $115,112 | -$5,112 | Not applicable |
*PQP, or Prevailing Quota Premium, is the moving average of COE prices in the last 3 months, and denotes the amount payable in order to renew a car's COE at the end of its tenure.