COE Results June 2026 — Exercise 2: Cat A falls to $123,847, Cat B at $123,502

Cat B COE premiums dropped $3,487 to $123,502 in the second June 2026 exercise, closing on 17 June — the sharpest fall among all categories this round. Cat A followed, declining $2,162 to $123,847. The Open (Cat E) category held virtually flat at $129,002, up just $2 from the previous exercise.

Cat A — Small Cars & EVs up to 110 kW

The Cat A quota premium fell $2,162 (−1.72%) to $123,847. The category drew 1,768 bids for 1,251 certificates, an oversubscription rate of 1.41×. PQP data is not yet available for this exercise. The decline reverses two consecutive rounds of increases and brings Cat A back below its early-June level.

Cat B — Larger Cars & High-Output EVs

Cat B saw a steeper correction, dropping $3,487 (−2.75%) to $123,502. A total of 1,202 bids competed for 883 certificates, putting the oversubscription rate at 1.36× — the lowest among the three categories. This is the first time since April that Cat B has traded below Cat A.

Cat E (Open) — Market Ceiling Indicator

The Open category, which accepts bids from all vehicle types except motorcycles, was essentially unchanged at $129,002 — a nominal $2 increase. Despite the flat price, Cat E recorded the highest oversubscription rate this round at 1.86×, with 487 bids chasing 262 certificates. The persistent premium over both Cat A and Cat B confirms continued demand from buyers willing to pay above category-specific prices for flexibility.

Trend

Premiums had been climbing steadily through April and May. Cat A rose from $123,010 (April Exercise 2) to $124,790 (May Exercise 1) and $126,009 (June Exercise 1) before pulling back to $123,847 in this round. Cat B followed a similar arc — from $121,001 to $126,989 before dropping to $123,502, giving back most of its gains over that period. Cat E has been the most consistent, rising from $125,002 to $129,002 across the same stretch with minimal volatility. This exercise marks the first broad-based retreat in COE prices since April.

What This Means for EV Buyers

Fully electric cars with motor output up to 110 kW — including models like the BYD Dolphin and Tesla Model 3 Standard Range — fall under Cat A, where the premium now sits at $123,847. Higher-output EVs above 110 kW, such as the Tesla Model Y and BYD Seal 230 kW, require a Cat B certificate at $123,502. With Cat B trading $345 below Cat A this round, the usual cost advantage of choosing a lower-output EV has temporarily disappeared. Both categories remain in the $123,000–$124,000 range, keeping COE a significant component of the total on-road price regardless of powertrain output.