Singapore COE Prices to Climb in 2026 Amid EV Boom and PHC Demand
The Singapore Certificate of Entitlement (COE) prices are set for another rise in 2026, driven by a strong demand surge from electric vehicles (EVs) and private-hire car fleets.Key TakeawaysSingapore COEs will see an increase of up to 20% in supply but won't meet the high demand, keeping prices elevated.The market for new EVs is expanding with affordable Chinese brands like BYD and Aion leading competition.Changes to VES and EEAI from January 2026 will reduce subsidies for EVs by SG$10,000, spurring a rush of early purchases.The robust demand is partly fueled by the rise in wealthy households with monthly incomes over S$20,000. This demographic shift has resulted in an 8% increase since 2024 and continues to drive car sales despite high prices.With new EV models entering the market at lowe...