COE premiums for cars rise across the board in first bidding exercise for August 2025, Lifestyle News
Cat A COEs, which are used for cars with internal combustion engines (ICEs) of up to 1,600cc in capacity and have a power output of less than 130hp, as well as electric cars with a power output of up to 110kW, went up by $907 to end the bidding exercise at $102,009.
Cat B COEs, which are used for ICE cars that exceed 1,600cc in capacity or have more than 130hp, and electric cars with over 110kW, saw premiums going up by $4,397 to end at $123,498.
Cat C, which are for goods vehicles and buses, saw prices went up by $1,401 to end the bidding exercise at $70,001.
Cat D, which are reserved for motorcycles, went down by $322 to close at $9,189.
Finally, Cat E, which is open to all vehicles except motorcycles, saw premiums go up by $2,334 to finish the exercise at $122,334.
Here's a summary of the first COE bidding exercise for August 2025: Category Current COE Previous COE Difference PQP* A $102,009 $101,102 +$907 $100,473 (Aug) B $123,498 $119,101 +$4,397 $117,542 (Aug) C $70,001 $68,600 +$1,401 $64,678 (Aug) D $9,189 $9,511 -$322 $8,986 (Aug) E $122,334 $120,000 +$2,334 Not applicable
*PQP, or Prevailing Quota Premium, is the moving average of COE prices in the last 3 months, and denotes the amount payable in order to renew a car's COE at the end of its tenure.
sherly.goh@asiaone.com
No part of this article can be reproduced without permission from AsiaOne.
Try Our AI Features
Explore what Daily8 AI can do for you:
Comments
No comments yet...
Related Articles
Independent Singapore
8 hours ago
- Independent Singapore
COE dreams: Can Singapore make car ownership fairer for the middle class?
SINGAPORE: In the city-state, buying and keeping a car is a tough act for a lot of people. For countless middle-class families, what was a difficult but likely objective—owning a car—now appears to be virtually impossible. As Certificate of Entitlement (COE) prices escalate, even a rudimentary automobile can be as pricey as a tiny condominium in specific areas of the region. Frustration is on the rise. On platforms like Reddit, Singaporeans are expressing the feelings that many have shared for years: The system appears to be stacked against the average person. The broken dream of car ownership A recent Reddit post captured the prevailing sentiment: 'COE prices in Singapore have been climbing nonstop, reaching absurd levels that are pricing out the average middle-class family. Owning a car has now become an unrealistic dream for many.' It's not just about convenience. For some families, a car is necessary to transport children to school, take care of elderly parents, or manage work shifts where public transport is limited. Thus far, under the existing structure, these needs vie in the same COE pool as those purchasing their second, third, or even fourth luxury car for weekend relaxation. Efficiency vs. fairness The Lion City's vehicle ownership system, focused around the COE, is known for efficiently regulating road bottlenecks and handling the number of automobiles, but the unrelenting query is — at what cost? Some Singaporeans are speculating if it's time for more well-adjusted procedures, maybe encouraged by the property market's Additional Buyer's Stamp Duty (ABSD) system. If housing speculation and hoarding can be minimized via a segmented revenue system, why not ponder a similar tactic for vehicles? Imagine a strategy where purchasing a second or third car comes with higher taxes, or where processing a car purchase under the name of another family member to dodge expenses comes with financial consequences. Such a scheme could produce an impartial environment for first-time consumers and dampen unnecessary spending by those with substantial funds. Not a call for cheap cars—just fairer access The Reddit user behind the original post made it clear: This isn't about making cars cheap. 'If every household could afford a car, Singapore's roads would become even more congested than they already are,' he noted. Rather, the intention is to find an equilibrium—one where those who truthfully need a car don't get priced out, while demand for extravagant vehicles is kept in check via policy procedures. 'Car ownership is not a right' Not everyone approves, and the reactions demonstrate an eclectic array of views. One commenter referenced a previous statement by SM Lee, who drew a clear line between housing and car ownership: 'The government considers that housing is a right and that transport is a right, but car ownership is not a right.' From this perspective, the COE isn't meant to be fair; it simply aims to control demand. In practical terms, it works. Roads stay judiciously clear, public transport gets favored handling, and owning a car becomes an indulgence, just like owning a Birkin bag or a first-class plane ticket. Others directly stated that 'The end game is to make car ownership not equitable,' and that 'You just need to earn more.' These comments signify a more profound societal disquiet. Is a system genuinely fair if it only benefits the wealthy? Implementation hurdles, not so simple Even among those who support the idea of a car tax similar to the ABSD, doubt exists. 'There are many cars registered under different family members for various reasons,' one commenter pointed out. 'Tracking real ownership or intent is difficult.' See also COE prices decline in final bidding of 2023 In a city-state where the number of cars is carefully regulated, any new policy would need to be tightly controlled to avoid misuse. A new way forward? Ultimately, this discussion is not just about cars. It's about access, justice, and the type of society Singapore intends to create. While some argue that the current system is functioning—roads are clearing up, public transport is growing, and luxury signals remain clear—others believe that a system where only the wealthy can own cars increases inequality and disconnects everyday Singaporeans. Is there a means in the current model to present more targeted equality? Can guidelines be made to distinguish between necessity and indulgence without crushing the system? That is still vague. Nevertheless, as COE prices keep growing, the conversation has changed from just about prices and outlays. It's now about values, and whose needs the system truly serves.
Business Times
10 hours ago
- Business Times
Amid BlueSG pause, how are car-sharing firms like Getgo, Tribecar faring?
[SINGAPORE] Electric car sharing firm BlueSG announced a pause of its current operations last Monday (Aug 4) and laid off most of its staff. Yet, the company is set to launch a new service from 2026 onwards. Some of Singapore's characteristics make it suited for car sharing, such as the high cost of car ownership, increasing disposable income and growth of the population. In recent years, car sharing has been boosted by the convenience of app-based platforms and high Certificate of Entitlement prices. According to Land Transport Authority statistics, the number of self-drive private hire cars has grown to 31,022 in 2024 from 17,238 in 2014. This includes both conventional long-term rental cars and car sharing vehicles. Industry estimates that the car sharing fleet population has grown to around 5,000 vehicles from less than 1,000 in the same period. The car sharing landscape in Singapore is estimated to bring in US$182.8 million in revenue by the end of 2025 with an average revenue of S$479 per user, according to research firm Statista. Revenue is projected to increase to US$236.4 million by 2030. BT in your inbox Start and end each day with the latest news stories and analyses delivered straight to your inbox. Sign Up Sign Up Keith Kee, CEO of BlueSG, said that car sharing will continue to be a growth industry in the near future, citing Singapore's high barriers to car ownership. 'I think it's important that services like BlueSG enable people who have a driving licence, but do not want to have the heavy commitment of owning a car, to be able to still drive. It's a different experience from other services like public transport or ride hailing. It complements public transport as part of the transport ecosystem in Singapore.' GetGo CEO Toh Ting Feng concurred, saying he believes that 'car sharing continues to grow and deliver more impact and access' in Singapore. 'The cost of living is going up, the cost of labour, land, and cars. At the same time, public transport is getting better, which addresses daily transport needs. So the need for accessible and flexible transport options will grow,' he added. Shared destiny? However, car sharing also has challenges here with many past attempts ending in failure. Car sharing has been around since 1997, when NTUC Income Car Cooperative began operating. Yet, BlueSG's troubles are not new. Despite the rosy outlook, there have been many failed attempts at car sharing in Singapore as car sharing firms grappled with high capital expenditure on fleet size and struggled to maintain service convenience for users. Honda Diracc, from the Japanese mass-market car brand, closed in 2008, unable to maintain profitability, service standards and vehicle availability amid fluctuating vehicle prices. CitySpeed Car Sharing by ComfortDelGro wound down in 2007, citing lower Certificate of Entitlement and car prices as usership plunged. Startup Smove launched in 2011 and became Singapore's biggest car sharing fleet by 2018. But it went into liquidation in 2020, due to disruption from the pandemic and was acquired by Drive lah. In 2008, Honda closed its car sharing service Diracc in Singapore. PHOTO: BT FILE Luxury German carmaker introduced Audi On Demand, a car-sharing/short term rental service in 2018 as part of a global programme, but ended it in 2024. Walter Theseira, associate professor of economics at the Singapore University of Social Sciences, said that the fundamental economics of car sharing in Singapore are challenging, with most firms that have been in the space over the last few decades being unsuccessful. 'My long-term outlook (on car sharing) has always been negative, as structurally the aim of public transport policy in Singapore is to reduce car use as much as possible by providing better public transport connectivity,' he said. He added that in Singapore, capital expenditures on vehicles are high, thus a certain amount of utilisation or revenue is needed to overcome depreciation. 'Currently, it seems easiest to do that through taxis and ride-hailing. Even in the future, that's likely to be the case through robotaxis. not through self-drive,' he said. Car sharing in Singapore: the players GetGo CEO Toh Ting Feng says the appeal of car sharing will continue to grow in Singapore as the cost of living increases. PHOTO: BT FILE Here's an overview of the firms currently offering car sharing services in Singapore. GetGo GetGo is the largest car sharing platform in Singapore with over 400,000 subscribers. Commenced operations: 2021 Fleet size: More than 3,000 Subscription: No subscription Rates: From S$3 per hour and S$0.39 per kilometre Locations: More than 1,700 Beyond car sharing, the team behind GetGo launched a long-term car leasing service called ZipZap at the end of July. It will have a minimum rental period of six months, compared to a range of one hour to five days for GetGo. BlueSG BlueSG is an electric-only car sharing platform, but will be pausing operations until 2026 as part of a major upgrade to its tech platform. Commenced operations: 2017 Fleet size: About 1,000 Subscription: Free, S$8, or S$18 per month Rates: From S$0.36 to S$0.58 per minute, depending on subscription level and car Locations: About 1,500 charging points In a response to The Business Times queries, BlueSG said it had about 250,000 subscribers currently. Goldbell Group had promised an investment of S$70 million over five years in 2021 when it acquired BlueSG from Bollore Group. The platform was also unique in that rented cars did not need to be returned to their pick-up locations. Tribecar Tribecar was the largest car sharing service in Singapore in March 2022, shortly after its acquisition of the oldest car sharing company Car Club (formerly NTUC Income Car Cooperative) and further expanded its fleet in 2022 with the acquisition of Popular Rent a Car. While no longer the largest, it is still one of the major players in the Republic. Commenced operations: 2016 Fleet size: About 1,400 Subscription: Optional, S$139 per month for two hours of driving per weekday Rates: From S$2.18 per hour, depending on subscription level and car Locations: More than 750 Tribecar also offers motorcycles, from as low as S$0.55 per hour, or vans from S$4.36 per hour. Shariot While GetGo is the largest car sharing platform, Shariot claims to be the largest van sharing platform in Singapore. It also offers car rentals, but has carved out its niche within vans. Commenced operations: 2020 Fleet size: More than 250 Subscription: No subscription Rates: From S$5.90, S$7.90, or S$9.90 per hour depending on vehicle type Locations: More than 300 Car Lite Carlite is a slightly older platform which, like Tribecar, allows probation plate holders to rent its vehicles. Commenced operations: 2018 Subscription: No subscription Rates: From S$1 per 15 minutes Locations: More than 150 According to Seedly, Car Lite in 2023 had a fleet size of more than 200 cars, though it does not otherwise publicly disclose its figures. Drive lah Drive lah is a unique car sharing service in the list, as it offers a peer to peer sharing. That means that private car owners rent out their own cars to hirers, instead of the cars all being owned by the company. Commenced operations: 2019 Fleet size: More than 1,300 Subscription: No subscription Rates: From S$1 per 15 minutes The company also acquired Smove, another car sharing platform, in 2020 and integrated its customers and some staff into Drive lah. In 2023, it secured S$2.7 million in funding from ComfortDelGro for its expansion in Australia, with that operation known as Drive mate.
AsiaOne
11 hours ago
- AsiaOne
BYD Atto 2 electric compact SUV launched in Singapore, Lifestyle News
BYD launched its newest model in Singapore, the Atto 2 electric compact SUV, at an event held at Zouk on Aug 5, and the choice of location is an indication of the type of customers it envisions the Atto 2 will attract. BYD says that the Atto 2 is aimed at youthful urban drivers looking for an easy-to-drive city runabout, and the car's compact dimensions and tight turning circle of just 5.25 metres makes it ideal for manoeuvring around dense CBD traffic or tight HDB carparks. Despite its small size however, the Atto 2 offers a relatively spacious interior, and a decent 380 litres worth of boot space to accommodate everyday necessities. It also comes generously equipped, with standard features that include ventilated front seats, a wireless smartphone charger, wireless Apple CarPlay/Android Auto connectivity, and the rotating central infotainment touchscreen that is now a BYD trademark. Power comes from a single electric motor that produces 134hp and 290Nm of torque, allowing the car to sit comfortably in COE Category A and further boosting its price-competitiveness. The 51.13kWh battery offers a range of 345km, which, while not class-leading, should be more than adequate for urban use in Singapore. BYD also adds that the battery can be fully charged using a DC fast charger in just 1.2 hours. The Atto 2's pricing of $157,388 with COE (as of August 2025) means that it is now the most affordable car in BYD's lineup, and BYD hopes that the Atto 2's attractive price tag will help it maintain its status as Singapore's number one selling automotive brand. [[nid:720462]] No part of this article can be reproduced without permission from AsiaOne.
