The premium for Category A Certificates of Entitlement (COEs) dropped 1.7% from S$126,000 to S$123,890 in the tender exercise held on August 5, marking a slight softening in prices for smaller, less powerful cars and electric vehicles (EVs) in Singapore [1, 2, 3, 4]. Meanwhile, the Category B COE premium, catering to larger and more powerful vehicles including EVs, saw marginal movement with a modest S$20 increase from S$129,890 to S$129,910 [1, 2, 3, 4].
The Open Category (Category E) COE, which is transferable and can be used for any vehicle type except motorcycles, edged up by 0.8%, rising from S$129,971 to S$131,000 [1, 2, 3, 4]. Motorcycle (Category D) COE premiums rose 3% to S$10,503, marking the third consecutive tender where the premium exceeded five digits and the fifth occurrence in 2026 [1, 2, 3, 4]. Commercial vehicle (Category C) COE prices declined by 2.5%, dropping from S$93,889 to S$91,545 [1, 2, 3, 4].
Corinne Chua, managing director of Volvo at Wearnes Automotive, noted the previous record of S$129,000 for Category A COEs might have established a perceived "maximum threshold" that limits buyer willingness to pay. She suggested demand may be shifting to Category B due to new EV model launches, and some buyers might be waiting to gauge the impact of a 4% reduction in Category A COE quotas from August to October before purchasing. Chua expects prices to stabilize around current levels as the recent changes are unlikely to shift consumer behavior significantly [3].
Zafar Momin, adjunct professor at NUS Business School, said it might be too early to confirm if the downward trend in Category A premiums will continue [3].
The previous tender on July 22 saw Category A premiums at S$126,000 and Category B at S$129,890, serving as a comparison point for the latest results [1, 2, 3, 4]. The next tender will reveal whether these trends hold as market participants adjust to quota changes and evolving demand patterns.
