20 Feb 20265 min read
Cat A COE Overtakes Cat B: The Budget 2026 PARF Effect
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.