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Share of COEs secured by car-leasing firms falls to 10%
The Straits Times
|November 13, 2024
Strong demand by individual Singapore buyers a likely driver of rise in premiums: Minister
One-tenth of the certificates of entitlement (COEs) for cars secured between January and October 2024 went to car-leasing companies. This is down from 24 per cent in 2023 and 26 per cent in 2022.
Transport Minister Chee Hong Tat revealed these figures in Parliament on Nov 12. He said that among the main drivers of the increase in COE premiums in recent quarters was likely the strong demand from individual Singapore buyers, and not foreigners or car-leasing companies.
Only 2 per cent of successful bidders for car COEs were foreigners in 2023 and 2024, compared with 3 per cent in 2022.
Mr Chee was responding to questions from MPs about COE supply and premiums.
This story is from the November 13, 2024 edition of The Straits Times.
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