Singapore’s COE system is both boon and bane for used EVs
COE premiums distort prices, but may have surprising benefits
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A BRUTAL price war among electric vehicle (EV) makers has dragged down the resale value of such used cars in China, the United States and Europe. But what about Singapore?
In Singapore, used EVs do seem to take longer to sell than conventional equivalents. But it is less clear whether they have a lower resale value.
Anecdotal evidence suggests that when popular EVs are traded in, the fall in value – compared to the price of a new EV – is similar to that of conventional cars.
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