COE supply expected to rise 20% in 2026, but premiums may not fall in proportion 

[SINGAPORE] The supply of passenger car Certificates of Entitlement (COEs) may grow some 20 per cent next year, but premiums may not fall significantly, say industry observers.

This is because demand will remain strong, supported by electric vehicle (EV) buyers and private-hire car (PHC) fleets.

“Weighing the major factors’ probabilities, I think COEs will not trend downwards significantly in 2026,” said automotive consultant Say Kwee Neng.