COE prices in Singapore drop, leading to increased interest in larger Category B cars, particularly electric vehicles. The Transport Ministry continues to address the supply trough by bringing forward COE quota from peak years. Car leasing companies are unlikely to be the primary factor for rising COE prices. The COE quota for the November 2023 to January 2024 quarter is increased, with an additional 1,614 COEs reallocated. The article argues that the COE system is exclusive and for the wealthy, with a surge in demand for car COEs and blame placed on private hire cars.

COE Prices in Singapore Surge