COE Nov 2023 1st Bid Results : Cat B Crashes 40K!

COE crash for CAT B.

With the 35% increase in COE for this quarter for both CAT A and B, the knee-jerk reaction was a price correction across the board.

The Category that dropped the most was CAT B. With the quota increase to 636 for this bidding, it is almost similar to the number of bids for the Oct 2023 end Bidding result. As a result, despite the number of bids increasing to 830 vs 636 bids, CAT B COE could not maintain its all-time high. 

With COE quota expected to increase further in 2024, this will ease the supply for new cars going forward. While the drop could entice buyers to return for the next round, there is a likelihood that CAT A and B might see further downside as the COE quota increases. 

If you are shopping for a car, 2024 might just be the time to get one.