Most Certificate of Entitlement (COE) premiums in Singapore increased in the May 20, 2026 bidding exercise, except for Category A (smaller cars), which fell slightly by 0.4-0.45% to S$124,229 after six straight rises [1, 2, 3, 4, 5, 6, 7].
Category B COEs for larger cars climbed 2.59-2.6% to S$129,501, marking their highest level since November 2025 [1, 2, 3, 4, 5, 6, 7]. The Open Category (Category E), used often for bigger vehicles, rose 1.8% to S$130,000 [1, 2, 3, 4, 5, 6, 7].
Commercial vehicle COEs (Category C) surged 5.4% to a record S$92,223, surpassing the previous high of S$91,101 set in March 2023. This continued a run of seven straight increases for Category C premiums since February 2026 [1, 2, 3, 4, 5, 6, 7, 8]. The Land Transport Authority (LTA) attributed the rise to seasonal demand after the Car Expo and a growing number of electric heavy goods vehicles (eHGVs) and e-buses on the road [4, 5, 7]. An LTA spokesperson said, "For Category C in particular, we have seen an increase in eHGV and e-bus registrations since January 2026, which may be due to the increasing take-up of the Heavy Vehicle Zero Tailpipe Emissions Scheme (HVZES)" [7]. The HVZES offers a S$40,000 grant to buyers, pushing demand higher [4, 5, 7].
Motorcycle COE premiums (Category D) also rose about 2.5% to roughly S$9,689 [1, 2, 3, 4, 5, 6, 7].
Industry experts linked the commercial vehicle premium surge to stronger demand from logistics and construction sectors, and the shift to electric heavy vehicles driven by government incentives. Timothy Wong, principal at Roland Berger, said the rise was "spurred by infrastructure development needs and commercial demands" [6, 7, 8]. Vynn Tu, GM for Renault at Wearnes Automotive, noted that "diesel prices remaining elevated and new incentives introduced for EHVs" have led to more companies replacing internal combustion engines with EVs, contributing to the surge in demand [7].
For Category A, experts like Ms Corinne Chua, managing director of Volvo at Wearnes Automotive, said the COE price likely reached a "maximum threshold," despite continued strong demand. She added, "Typically, after a big sales event like the Car Expo, COE premiums will go up" [4].
The LTA reminded buyers to bid prudently amid tight supply. It noted about 2% fewer Category A COEs will be available from May through July 2026 compared to the previous quarter, translating to approximately 25 fewer certificates per tender exercise [2, 3]. The overall COE quota for the May-July quarter stands at 19,052 certificates [2, 3].
At the May 20 tender, 3,180 COEs were offered across all categories, with total bids hitting 5,244 [1]. The next bidding exercise is scheduled in two weeks.
