44 months of official data
Car COE premiums, Jan 2023–Aug 2026
Second bidding exercise of each month · Singapore dollars
Category A reached a record $129,000 in July 2026 before closing just below it in August. Category B and Open Category E also remain above $130,000.
Singapore’s latest COE result presents prospective car buyers with an uncomfortable combination: more certificates are being released, yet demand remains strong enough to keep premiums near record levels.
In the second bidding exercise of August 2026, Category A closed at $128,501. Category B reached $131,001, while the Open Category E rose to $135,000.
This article is for the household that wants—or genuinely needs—a car but is wondering whether to buy now, wait for more quota or accept a dealer’s “guaranteed COE” package.
Our view is straightforward: unless the car solves an immediate transport need, there is little reason to rush into the market based on one bidding result.
Prices are near their highs, but this is not just a one-round spike
Category A increased by $4,611 from the previous exercise to $128,501, only $499 below the $129,000 record set in July 2026.
Category B rose by $1,091 to $131,001. Category E increased by $4,000 to $135,000. Category C, covering goods vehicles and buses, was the only category to fall, while motorcycle COEs recorded the largest percentage increase, rising 7.6 per cent to $11,301.
| Category | What it covers | Quota | Bids received | Premium | Change |
|---|---|---|---|---|---|
| A | Smaller and lower-powered cars | 1,197 | 1,600 | $128,501 | +$4,611 |
| B | Larger and higher-powered cars | 936 | 1,316 | $131,001 | +$1,091 |
| C | Goods vehicles and buses | 306 | 446 | $90,002 | −$1,543 |
| D | Motorcycles | 512 | 686 | $11,301 | +$798 |
| E | Open category, except motorcycles | 254 | 467 | $135,000 | +$4,000 |
The broader trend matters more than any individual jump. Category A rose from $93,601 in January 2025 to $128,501 in August 2026—a 37 per cent increase. The early-2024 correction has been reversed.
So what for you? Do not interpret the next small decline as proof that affordable COEs are returning. Prices can fall between exercises without changing the longer high-price trend.
Demand is still outrunning the available supply
The August exercise offered 3,205 certificates across all five categories and attracted 4,515 bids.
For Category A, 1,600 bids competed for 1,197 certificates—about 1.34 bids for every available COE. Category B received 1,316 bids for 936 certificates, or about 1.41 bids per COE. Category E recorded 467 bids for 254 certificates, approximately 1.84 bids per COE.
| Car-related category | Available COEs | Bids received | Bids per COE |
|---|---|---|---|
| Category A | 1,197 | 1,600 | 1.34 |
| Category B | 936 | 1,316 | 1.41 |
| Category E | 254 | 467 | 1.84 |
The quota for August to October 2026 is broadly stable. The base allocation for each exercise is 1,189 Category A certificates and 921 Category B certificates. Final exercise quotas may be slightly higher when unused certificates and other adjustments are carried forward.
More supply can ease pressure, but it does not guarantee lower prices when dealers and buyers continue bidding aggressively.
So what for you? Waiting solely because you have heard that “more COEs are coming” is not a complete strategy. Watch whether quota growth begins to exceed demand consistently—not merely whether the quota rises.
Understand what dealers are bidding on your behalf
A COE gives its holder the right to own and use a vehicle in Singapore for 10 years. Its premium is added to the vehicle’s other costs, including its Open Market Value, registration fee, Additional Registration Fee and applicable taxes.
There are five categories:
- Category A: non-fully-electric cars up to 1,600cc and 97kW, and fully electric cars up to 110kW
- Category B: cars above the Category A engine or power limits
- Category C: goods vehicles and buses
- Category D: motorcycles
- Category E: an open category usable for any vehicle except motorcycles
During an exercise, buyers—or more commonly their dealers—submit the maximum amount they are prepared to pay. When bids exceed the available quota, the current price rises.
Successful bidders do not pay their individual maximum bid. Everyone who succeeds in the category pays the same Quota Premium, set at $1 above the highest unsuccessful bid.
For example, suppose two certificates are available and three buyers bid $50,000, $45,000 and $35,000. The first two buyers succeed, but each pays $35,001.
There are normally two bidding exercises each month. They generally begin at noon on the first and third Monday and close at 4pm on the Wednesday of the same week. Public holidays can shift the timetable.
So what for you? Your dealer’s maximum bid can affect whether you secure a COE, but it is not automatically the amount you will pay. Ask the dealer to explain the bidding limit, number of attempts and what happens if the premium exceeds the package allowance.
“Guaranteed COE” does not always mean a guaranteed final price
Dealer packages use the phrase “guaranteed COE” in different ways.
Some packages allow the dealer to bid repeatedly while keeping the agreed vehicle price fixed. Others may require a top-up if the premium rises beyond a specified amount. The number of bidding attempts, delivery deadline and refund terms can also vary.
Those distinctions matter when premiums can move by several thousand dollars between exercises.
Before signing, ask:
- Is the final vehicle price fixed?
- Can the dealer require a COE top-up?
- How many bidding exercises are included?
- What happens if the dealer does not secure a COE?
- Is the deposit fully refundable?
- Does the contract allow substitution of the vehicle or package?
So what for you? Treat “guaranteed COE” as a contract term to investigate, not a promise to accept at face value.
Do not let the monthly instalment define affordability
A high COE affects more than the showroom price. Your real cost includes the downpayment, loan interest, insurance, parking, road tax, maintenance and fuel or charging expenses.
A long loan tenure can make the monthly figure look manageable while increasing the total interest paid. Dealer discounts may also be conditional on using a particular loan or insurance package.
The responsible comparison is therefore not “Can I afford this monthly instalment?” It is “What will this car cost my household in total, and what will we give up to pay for it?”
So what for you? Set an all-in ownership budget before visiting the showroom. If the purchase works only after stretching the loan tenure or excluding recurring costs, the car is outside your comfortable budget.
Should you buy now or wait?
You should consider buying now if the car solves a genuine and immediate need, the total cost fits comfortably within your household budget, and you can absorb a change in financing or running costs without disrupting essential savings.
You should consider waiting if the decision is mainly driven by a promotion, fear that COE will rise forever or the belief that one softer exercise represents a lasting reversal.
Nobody can reliably predict the next COE result. Showroom promotions, new model launches and dealer order backlogs can support bidding even when supply improves.
Waiting is not guaranteed to produce a lower price. But buying near a record because you fear missing out is not a sound financial argument either.
So what for you? Decide according to need and affordability, not a forecast. A car you genuinely need may justify today’s premium; a discretionary upgrade usually does not require urgency.
The SGroar view
Singapore remains in a high-price COE cycle. Category A is close to its record, Categories B and E are above $130,000, and demand exceeded the available certificates across every car-related category in the latest exercise.
For the household considering a car in the next 6–12 months, our advice is:
- If the purchase is discretionary: wait and continue saving.
- If the car is necessary: set a strict all-in budget and compare complete written offers.
- If a dealer promotes “guaranteed COE”: inspect the top-up, refund and bidding clauses.
- If you are hoping for lower prices: watch sustained demand relative to quota, not one isolated result.
The decision is not whether COE will rise or fall at the next exercise. It is whether this car remains affordable even if your forecast turns out to be wrong.
Data cut-off: 19 August 2026. COE prices, quotas and bids are based on official LTA data published through data.gov.sg and OneMotoring. Historical comparisons use the second bidding exercise of each month. Additional references: AsiaOne’s 2026 results tracker and CNA’s 19 August report.
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