Certificate of entitlement (COE) premiums in Singapore surged in the latest tender, with smaller-car certificates hitting a new record of S$119,003.
The increase underscores strong demand ahead of regulatory changes affecting car ownership costs.
Category A COEs, used for smaller cars and electric vehicles (EVs), rose by 10.3 per cent from S$107,889 in the previous tender on 3 September, surpassing the earlier record.
Category B COEs, for larger and more powerful cars, climbed by 7.4 per cent to S$136,890.
This marks the highest level since October 2023, when premiums reached S$150,001 during the second bidding exercise.
Category E COEs, which are open certificates transferable to most vehicle types except motorcycles, increased by 9.9 per cent to S$140,502.
This is the highest since October 2023, when the record was S$158,004. Dealers often use these certificates to secure immediate registration for customers without waiting for future tenders.
For commercial vehicles under Category C, COE prices rose by 1.3 per cent to S$72,501.
Motorcycle premiums under Category D registered a smaller increase of 1.2 per cent, reaching S$9,209.
Motor dealers reported heightened showroom activity over the weekend, attributing the surge partly to regulatory announcements.
The Land Transport Authority (LTA) revealed on 8 September that rebates for EVs would be reduced from 1 January 2026, while surcharges on other cars would rise.
Sales staff said they had contacted potential buyers to highlight these changes, encouraging purchases before the revised framework takes effect. Many dealers believe this anticipation of higher ownership costs has accelerated demand and contributed to the current spike in COE premiums.
A COE is required to register any new vehicle in Singapore, with the cost factored into the final price of the vehicle.
The system, aimed at regulating vehicle numbers, is closely watched as it directly impacts affordability and demand in the car market.
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