COE Results April 2026 — Exercise 1: Cat A rises to $118,000, Cat B at $121,000

Cat A COE prices rose $6,110 to $118,000 in the first April 2026 exercise, closing on 8 April. Cat B climbed $5,432 to $121,000. The Open category (Cat E) added $2,882 to reach $121,001, with demand running well ahead of available quota across all three categories.

Cat A — Small Cars & EVs up to 110 kW

Cat A rose 5.46% from $111,890 to $118,000, with 2,537 bids competing for 1,265 slots — an oversubscription rate of 2.01×. The QP now sits approximately 10% above the prevailing quota premium (PQP) of $107,407, indicating prices have moved well above the three-month rolling average. Fully electric cars with motor output at or below 110 kW — including certain Tesla Model 3 and BYD Seal variants — qualify under this category.

Cat B — Larger Cars & High-Output EVs

Cat B rose 4.70% to $121,000, up from $115,568, with 1,406 bids for 811 lots — a 1.73× oversubscription rate. The QP of $121,000 is $6,634 above the PQP of $114,366, reinforcing that prices are running above recent averages. Demand held firm despite the higher price point.

Cat E (Open) — Market Ceiling Indicator

The Open category, which accepts bids from all vehicle types except motorcycles, rose $2,882 to $121,001. With 475 bids for 245 lots, the category closed 1.94× oversubscribed. Cat E's QP functions as the market ceiling — at this exercise it edged fractionally above Cat B, reflecting broad demand from buyers across multiple vehicle classes.

Trend

Direct comparison is limited to the March 2026 2nd exercise, the only prior result in the current dataset. From that baseline, all three tracked categories have risen: Cat A by $6,110, Cat B by $5,432, and Cat E by $2,882. Both Cat A and Cat B QPs now sit well above their respective PQPs, suggesting the upward move is not a short-term fluctuation. The second April exercise will provide the next data point on whether this trajectory holds.

What This Means for EV Buyers

Fully electric cars with a maximum motor output at or below 110 kW — such as select BYD Seal and Tesla Model 3 variants — qualify under Cat A. EVs exceeding that threshold, including the Tesla Model Y and higher-output BYD Seal variants, require a Cat B COE. The difference between Cat A and Cat B QPs in this exercise is $3,000. For buyers weighing Cat A versus Cat B-eligible EVs, the COE category affects not only upfront cost but also the PQP applied at renewal — Cat A's PQP of $107,407 remains $6,959 below Cat B's $114,366.