Singapore small-car COE hits record near $100,000 as premiums rise

Singapore’s certificate of entitlement (COE) for small cars reaches a record high in the latest bidding exercise, according to reports. The right to own a Category A small vehicle climbs to S$129,000 (about US$99,700), a new peak. The South China Morning Post reports the Category A COE rises 4.2% from the previous round held on June 17. Premiums for larger and more powerful cars in Category B also increase, rising 6% to S$130,889. The higher prices are occurring alongside policy changes affecting electric vehicles, with analysts cited by the South China Morning Post saying COE premiums could continue to rise as rebates for electric vehicles come to an end. The Diplomat similarly notes that the latest round sees the small-vehicle COE price move to nearly US$100,000. Across both sources, the central development is the sharply higher COE price for small cars in Singapore’s quota-based system, which determines access to car ownership.