February 2026 marks a major milestone for Singapore automotive industry as electric vehicle registrations cross the 55% threshold, led by a strong performance from BYD and Tesla.
February 2026 COE results saw Category B premiums drop by over $5,800, while Category A remained stable above $106,000. Open category bidding intensified significantly, reaching an over-subscription rate of 238.9% in the second round.
Cat A COE closed above Cat B for only the second time in 35 years. The last instance was during the 1998 Asian Financial Crisis. Budget 2026's PARF overhaul, slashing rebate rates and halving the cap to $30,000, hit Cat B's cost of ownership hardest, producing a $1,500 inversion.
Total Cars
8,273
Electric
4,592
Hybrid
3,098