Q1 2026 COE Review: Category A Rose as Category B Ended Lower
Review January–March 2026 premiums with exact start-to-end changes, February’s A–B inversion and the correct quota-period distinction.
Category A ended the first quarter above its opening exercise, while Category B ended below it. Describing all car categories as moving together obscures the actual results.
| Category | Exercises | Minimum | Mean premium | Maximum |
|---|---|---|---|---|
| A | 6 | S$102,009 | S$107,407 | S$111,890 |
| B | 6 | S$105,001 | S$114,366 | S$121,634 |
| C | 6 | S$74,801 | S$75,751 | S$78,000 |
| D | 6 | S$7,989 | S$8,670 | S$9,589 |
| E | 6 | S$112,890 | S$117,465 | S$122,000 |
Arithmetic mean across available exercises; no weighting by quota. Missing exercises are not invented. This table updates when a source record is corrected.
Start-to-end changes
| Category | Opening premium | Closing premium | Change |
|---|---|---|---|
| A | $102,009 | $111,890 | +$9,881 (+9.69%) |
| B | $119,100 | $115,568 | −$3,532 (−2.97%) |
| C | $75,503 | $78,000 | +$2,497 (+3.31%) |
| D | $8,689 | $9,589 | +$900 (+10.36%) |
| E | $122,000 | $118,119 | −$3,881 (−3.18%) |
These are changes between two exercises. They are not quarter-on-quarter changes in the average. The table above separately reports the arithmetic mean and range across the quarter.
February did not follow a simple A-below-B rule
Category A was $106,320 and B $110,890 in February’s first exercise. In the second, A was $106,501 while B was $105,001: A exceeded B by $1,500. A category’s technical eligibility is not a guarantee that its premium is always lower.
Quota windows cross calendar quarters
The announced February–April allocation was 18,824 certificates across all categories. It should not be labelled the total for January–March. A year-on-year percentage also needs the matching earlier window and units, rather than an unsourced claim that quota grew 20%.
A result is not a demand survey
Prices alone cannot quantify the contribution of a new model, a lender-rate change or a particular type of buyer. Registrations occur after bidding and should not be treated as the same dataset. The PARF revision likewise followed defined original-COE cohorts rather than cutting every existing owner’s rebate.
How to use this review
For a historical comparison, preserve the exercise dates and category definitions. For a current purchase, obtain today’s complete quote. For renewal, inspect the monthly PQP. None of those decisions should use a first-quarter average as a guaranteed future price.
Sources and review date
Reviewed on 13 September 2026. Historical results retain their exercise dates; worked budgets are assumptions, not quotations.