In the ever-evolving landscape of our automotive market, the Certificate of Entitlement (COE) system has taken centre stage once again as it reaches record-breaking heights. As of the 1st COE bidding exercise for September 2023, both Category B and the Open Category have hit an astonishing record of S$134,889 and S$137,000, respectively. This surge in COE premiums has far-reaching implications,...
Industry insiders and experts have identified several contributing factors to this sudden surge in COE premiums:
Vehicle Emissions Scheme: Car distributors are also keen to clear their existing stock of vehicles before tighter pollutant thresholds, scheduled for January 1, 2024, under the enhanced Vehicle Emissions Scheme come into effect. This further fuels the demand for COEs in the remaining tender exercises for 2023.