COE Bidding Results Analysis: April 2026 Round 1
The first COE bidding exercise of April 2026 has concluded, and the results are striking: premiums surged across all five categories, with Category A hitting its highest level this year at $118,000. A three-week gap between bidding cycles — extended by the Good Friday long weekend — compressed demand into a single exercise, driving fierce competition. Most notably, the gap between Category A and Category B has narrowed to just $3,000, fuelling the ongoing debate about whether the category system needs restructuring.
Summary of April 2026 Round 1 Results
Here is the complete breakdown of premiums from the latest bidding exercise, alongside the previous round's results for comparison:
| Category | Apr 2026 R1 Premium | Mar 2026 R2 Premium | Change ($) | Change (%) |
|---|---|---|---|---|
| Cat A (Cars up to 1,600cc) | $118,000 | $111,890 | +$6,110 | +5.5% |
| Cat B (Cars above 1,600cc) | $121,000 | $115,568 | +$5,432 | +4.7% |
| Cat C (Goods Vehicles & Buses) | $80,001 | $77,119 | +$2,882 | +3.7% |
| Cat D (Motorcycles) | $10,000 | $10,389 | −$389 | −3.7% |
| Cat E (Open Category) | $121,001 | $118,119 | +$2,882 | +2.4% |
Category A: Surges to 2026 High
Category A posted the biggest dollar jump of the round, rising $6,110 to close at $118,000 — its highest premium so far this year. The exercise was 101% oversubscribed, meaning more than twice as many bids were received as certificates available. Mass-market buyers eyeing models like the Toyota Corolla Cross Hybrid, Honda Civic, and Mazda 3 are now facing six-figure COE premiums as the new normal.
Several factors converged to drive the surge. The three-week gap between this exercise and the March Round 2 results allowed pent-up demand to accumulate. Dealer roadshows over the Good Friday long weekend brought fresh buyers into the market. And the ongoing effects of the PARF rebate slash may be discouraging deregistrations, tightening supply.
At $118,000, Category A is now within striking distance of Category B — a gap of just $3,000. This convergence is historically unusual and adds weight to the government's ongoing review of the category system. The COE results dashboard tracks these movements in real time.
Category B: Steady Climb but Overtaken by Cat A's Surge
Category B premiums rose $5,432 to $121,000, a solid gain but overshadowed by Category A's even steeper increase. The traditional narrative of Category B as the "expensive" car segment is being challenged: with Category A at $118,000 and Category B at $121,000, the premium for upgrading to a larger or more powerful car has shrunk to just $3,000.
Category B demand continues to be driven by a mix of continental luxury marques and electric vehicles. The Tesla Model Y, BYD Seal, and Hyundai Ioniq 5 all fall into Category B based on motor power equivalence, and their growing popularity maintains steady demand pressure. However, the reduced EEAI rebate (now $30,000, down from $40,000) is beginning to temper the EV rush that characterised late 2025.
The near-parity between Categories A and B is the most significant structural development in this round. If Category A continues to close the gap, it undermines the rationale for separate categories based on engine capacity. Track the convergence trend on our COE trends charts.
Category C: Commercial Vehicles Push to $80,001
Category C premiums climbed $2,882 to $80,001, pushing deeper into record territory for the goods vehicles and buses segment. The commercial vehicle market has its own demand dynamics, driven by fleet operators and logistics companies whose purchasing decisions follow business cycles rather than consumer sentiment.
The continued strength in Category C reflects robust economic activity in logistics and e-commerce fulfilment. At $80,001, commercial vehicle operators face historically unprecedented COE costs that are being passed through to freight and delivery pricing. Small business owners who rely on goods vehicles continue to bear the brunt of elevated premiums.
Category D: Motorcycles Ease to $10,000
In a rare bright spot, motorcycle COE premiums dipped $389 to $10,000, settling back to a round five-digit figure after several months of increases. The motorcycle segment has the smallest quota of any category, which means even modest demand shifts produce visible price movements.
The slight retreat may reflect seasonal factors and a brief pause in fleet expansion by delivery platforms. However, structural demand from food delivery and ride-hailing services remains strong, and at $10,000 the premium still represents a significant fraction of most motorcycles' purchase price. See our complete guide to Category D COE for more context.
Category E: Open Category at $121,001
The Open Category premium rose $2,882 to $121,001 — essentially matching Category B at $121,000. Category E is unique because it can be used for any vehicle type, making it a fallback for bidders who fail to secure a certificate in their primary category.
The near-parity between Category E and Category B is notable. Typically, Category E trades at a premium to Category B because of its flexibility. The current alignment suggests that most Category B bidders were able to secure certificates in their primary category, reducing the need for the E category escape valve. When Category E breaks significantly above B, it signals panic — which was not the case this round.
Key Takeaways for Buyers
- Category A buyers: Six-figure Cat A premiums appear entrenched. At $118,000, the cost difference versus Category B is negligible ($3,000). If you are choosing between a Cat A and Cat B vehicle, the COE premium is no longer a meaningful differentiator. Budget accordingly.
- Category B buyers: At $121,000, Cat B remains firm but is no longer dramatically more expensive than Cat A. Consider whether Category E at $121,001 offers any strategic advantage as a backup.
- Commercial operators: Category C at $80,001 is a new high-water mark. If your fleet replacement is not urgent, the second bidding exercise may offer slightly softer conditions as the long-weekend demand spike fades.
- Motorcycle buyers: The dip to $10,000 provides a brief window. Structural demand from delivery services suggests this relief may be temporary.
Looking Ahead to April Round 2
The second bidding exercise of April 2026 opens on 20 April (Monday), with results expected on 22 April (Wednesday) at 4pm. The key question is whether the demand surge from the three-week gap was a one-off compression or the start of a sustained upward move. With the PARF slash reducing deregistration incentives and EV demand maintaining pressure on both Categories A and B, the structural backdrop remains tight.
We will publish our full analysis of April Round 2 results shortly after the exercise concludes. Use our Total Cost of Ownership Calculator to see exactly how today's premiums translate into monthly costs for your desired vehicle.
Frequently Asked Questions
When is the next COE bidding exercise?April 2026 Round 2 opens on 20 April 2026 (Monday) at 12pm, with results released on 22 April 2026 (Wednesday) at 4pm. The full schedule is listed on our bidding schedule page.
Why have Category A and Category B premiums converged?Several forces are pushing Category A premiums upward faster than Category B: strong mass-market demand compressed by the three-week gap, ongoing effects of the PARF rebate slash on supply, and growing EV demand in the sub-1,600cc segment. Meanwhile, Category B has risen more moderately. This convergence — Cat A at $118,000 vs Cat B at $121,000 — is one reason the government announced a review of the category system in March 2026.
Should I bid now or wait for the next round?There is no guaranteed way to time the COE market. The three-week gap inflated demand for this round, so Round 2 may see a modest pullback as the compressed demand has been partially absorbed. However, structural factors — tight supply, PARF-driven lower deregistrations, persistent EV demand — suggest premiums will remain elevated. Our Bid Advisor tool can help you assess current conditions.
How do EV registrations affect COE prices?EVs compete for the same COE certificates as petrol and diesel cars. An EV with motor power equivalence above 1,600cc bids in Category B, while those below the threshold bid in Category A. As EV adoption grows, total demand for COEs increases without a corresponding increase in supply, putting upward pressure on premiums in the affected categories. The reduced EEAI rebate ($30,000, down from $40,000) has slowed the rush slightly but demand remains strong.