Executive Summary
March 2026 witnessed a general upward trend in Certificate of Entitlement (COE) premiums across the Singapore automotive market. Both bidding exercises saw increased competition, with Category A (small cars) and Category E (Open) experiencing the most significant dollar-value jumps. While the market showed signs of heavy over-subscription early in the month, the second round confirmed a sustained bullish sentiment among bidders, pushing prices higher across all five categories.
First Bidding Exercise Results
| Vehicle Class | Quota | Bids Received | Bids Success | Premium (SGD) | Over-subscription % |
|---|---|---|---|---|---|
| Category A | 1,268 | 1,762 | 1,267 | $108,220 | 138.96% |
| Category B | 815 | 1,261 | 815 | $114,002 | 154.72% |
| Category C | 290 | 488 | 285 | $76,000 | 168.28% |
| Category D | 545 | 643 | 544 | $8,602 | 117.98% |
| Category E | 245 | 514 | 239 | $114,890 | 209.80% |
Second Bidding Exercise Results
| Vehicle Class | Quota | Bids Received | Bids Success | Premium (SGD) | Over-subscription % |
|---|---|---|---|---|---|
| Category A | 1,264 | 1,895 | 1,263 | $111,890 | 149.92% |
| Category B | 812 | 1,185 | 812 | $115,568 | 145.94% |
| Category C | 290 | 438 | 290 | $78,000 | 151.03% |
| Category D | 546 | 726 | 516 | $9,589 | 132.97% |
| Category E | 246 | 422 | 244 | $118,119 | 171.54% |
Detailed Analysis
Bidding Competition
Competition remained intense throughout the month. Category E (Open Category) saw the highest level of interest in the first round with an over-subscription rate of 209.8%, indicating strong demand from buyers who are less price-sensitive or are looking for flexibility in registration. In the second round, Category A saw a significant increase in interest, with bids received rising to 1,895—nearly 1.5 times the available quota—reflecting a rush of entries for smaller, mass-market cars.
Premium Movements
Prices increased across the board between the first and second bidding rounds:
- Category A saw a substantial rise of $3,670 (3.39%), moving from $108,220 to $111,890.
- Category B experienced a more modest increase of $1,566 (1.37%), ending the month at $115,568.
- Category D (Motorcycles) recorded the highest percentage jump of 11.47%, climbing from $8,602 to $9,589.
- Category E followed closely with a 2.81% increase, reaching $118,119.
Category Performance
The narrowing gap between Category A and Category B suggests that demand for mass-market vehicles is putting significant pressure on the entry-level tier. Historically, Category A serves as a barometer for general consumer sentiment, and current levels above $111,000 indicate that buyers are still willing to commit despite high entry costs. Category C (Commercial Vehicles) also remained steady, rising by $2,000 to reach $78,000, suggesting stable demand in the logistics and transport sectors.
What This Means for Car Buyers
Category A Buyers (Small Cars)
With premiums now exceeding $111,000, the entry point for car ownership remains high. The 3.39% jump in the second round suggests that dealers may have more orders on hand than they can fulfill with current quotas. Prospective buyers should anticipate that showroom prices will likely reflect these increases in the coming weeks.
Category B Buyers (Larger Cars)
The relatively smaller increase in Category B (+1.37%) indicates a level of price stability at the top end of the market. While prices are high, they are not currently experiencing the same volatile spikes as other categories. For those considering luxury or high-performance vehicles, this might be a period of relative predictability.
Commercial and Motorcycle Buyers
Commercial vehicle buyers should note the 2.63% rise in Category C, which may impact business operational costs. Motorcycle buyers, however, face the sharpest volatility; the 11.47% increase in Category D premiums in just two weeks is a significant barrier for those seeking affordable personal transport. It would be wise for riders to monitor if this spike is a one-off adjustment or a new trend for the quarter.