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Singapore car permits hit record US$99,700 ahead of EV incentive expiry

By PulseAugur Editorial · [1 sources] ·

The cost of obtaining a car permit in Singapore has reached a record high of US$99,700 for smaller vehicles and EVs. This surge is attributed to the impending expiration of government incentives for electric vehicle adoption on December 31st, prompting buyers to secure permits before the deadline. Despite the rising costs, analysts believe Singapore's commitment to electrification will continue. AI

RANK_REASON Policy change regarding EV incentives leading to significant market impact. [lever_c_demoted from significant: ic=1 ai=0.1]

Read on SCMP — Tech →

AI-generated summary · Google Gemini · from 1 sources. How we write summaries →

Singapore car permits hit record US$99,700 ahead of EV incentive expiry

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  1. SCMP — Tech TIER_1 English(EN) · Bloomberg ·

    It costs a record US$99,700 to buy a small car permit in Singapore

    The right to own a small car in Singapore climbed to a record high of S$129,000 ($99,700), with analysts saying premiums could rise further as rebates for electric vehicles come to an end. The price of a Category A certificate of entitlement (COE) meant for smaller cars and EVs a…

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