The hope is that COE prices will moderate with the increase in supply, says Acting Transport Minister Chee Hong Tat. Read more at straitstimes.com.
The authorities will ensure the COE supply in the upcoming quarters will continue increasing till the peak supply years of 2026 and 2027.
Yet in answering questions filed by more than 10 MPs on the issue, Mr Chee made the point that COE prices also depend on market demand, which he said is not within the Government’s control. Mr Chee said industry players welcomed this move, as the supply injection this time is more significant than before.
At the latest COE tender ending on Oct 18, the premium for larger cars ended at $150,001, while the premium for the Open category – which can be used for any vehicle type except motorcycles but ends up being used mostly for bigger cars – came in at $158,004. Mr Chee noted that this large difference in supply during the peak and trough years results in higher COE price volatility.
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