May 2026 COE Results 2nd Bidding: The COE horse went racing again, with Category E at $130k and commercial-vehicle Category C at an all-time high of $92.2k

In the second COE bidding exercise of May 2026, Cat A closed at $124,229; Cat B closed at $129,501; Cat C closed at $92,223; Cat D closed at $9,689; while Cat E closed at $130,000.

Cat A (car up to 1600cc & 130bhp, and EV with up to 110kW) received 2,283 bids for 1,239 COEs and its premium dipped by $561. Category A COE closed at $124,229.

Cat B (car above 1600cc or 130bhp, and EV with more than 110kW) received 1,469 bids for 869 COEs and its premium climbed by $3,265. Category B COE closed at $129,501.

Cat C (goods vehicle and bus) received 468 bids for 292 COEs and its premium increased by $4,744. Category C COE closed at $92,223.

Cat D (motorcycle) received 588 bids for 524 COEs and its premium increased by $237. Category D COE closed at $9,689.

Lastly, Cat E (all vehicles except motorcycle) received 436 bids for 256 COEs and climbed by $2,300. Category E COE closed at exactly $130,000.

Will COE premiums continue to be hot in the next few bids? 

Some motor traders are sensing the heat.

Komoco Motors Hyundai commercial director, Ng Choon Wee, told Motorist: “Car Expo (event on May 9-10) surely contributed to the excessive bids received, as compared to the previous COE (round). Cat B models usually have higher bidding power, and this could have pushed up the COE premium despite more bids received, with both Cat B and Cat E reaching a new high since November 2025.” 

Volvo Car Singapore managing director, Corinne Chua, said: “Cat E COE has reached its all-time high for this year, which shows there is an expectation that COE will continue to climb. With the high number of unsuccessful bids for both Cat A and B, I expect COE prices to go up or remain at current levels, as many cars are nearing the end of the 10-year COE cycle and due for change.” 

Eurokars EV managing director, Raymond Ng, commented: “We are two bids away from wrapping up Q2 2026 and H1 2026. Some dealers also have their financial year closing in June 2026 and they may need to hit certain targets. After 31 December 2026, the maximum total combined savings for EEAI and VES rebate will drop from $30,000 to $20,000; hence the demand for Chinese EVs is still going very strong, as we evidently witnessed in our packed MG and IM Motors showroom.”

Tan Chong Motor Nissan sales and marketing head, Ron Lim, remarked: “Given the huge backlog, definitely COE prices will still come under pressure to stay high.”

He also shared his thoughts on the record-high Category C COE of $92,223. 

“It’s really the EV HGV (heavy goods vehicle) dealers which are wreaking havoc with the $40k EV incentive. End up, LGVs (light goods vehicles such as panel vans), used mainly by SMEs, are severely affected. By lumping LGVs and HGVs in the same COE pool, the HGVs will definitely have deeper pockets, now with additional EV rebate to throw in and outbid the LGV buyers.” 

Some motor traders are sensing less heat ahead in the COE premiums.

Vantage Automotive BYD managing director, Adelene Tan, said: “Really depends, as many gave huge discount and collected non-guaranteed bids. They will need to wait for the correct level to bid successfully.” 

Kah Motor Honda chief executive, Nicholas Wong, said: “Cat A has shown some weaknesses and the response from Car Expo doesn’t seem to be overwhelming, with sales periods extended before and after the event.”

Premium Automobiles (Zeekr, Xpeng, DEEPAL, AVATAR) managing director, Lee Hoe Lone, said: “Cat A more or less stayed.”

Vincar Group (GAC, Aion, Hyptec) commercial director, Vincent Ng, added: “Cat B likely will soften after another two rounds.”

The general manager of a Leng Kee dealership concluded: “I expect the market to slow down in the next two weeks.”

Here is a summary of the second COE bidding exercise for May 2026: