Singapore's Car Permit Frenzy Raises Questions About Market Manipulation Singapore's government has been promoting electric vehicles as part of its net zero strategy, but a record breaking price of $99,700 for a small car permit highlights a potential issue with this approach.
The recent surge in car permit prices is not an anomaly – it's a symptom of a deeper problem. The 4. 2% jump in Category A COE premiums, which cater to smaller cars and EVs, has sent shockwaves through the market.
This increase comes as government incentives set to expire at the end of December prompt buyers to rush into the market for temporary savings.