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Policy changes, construction demand push commercial vehicle COE premiums to new record

Big infrastructure projects and changing policy keep Category C high, which could disadvantage smaller players

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Derryn Wong

Derryn Wong

Published Thu, May 21, 2026 · 04:36 PM
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    • Heavy vehicle demand to serve major construction projects has helped drive Category C COE premiums to new heights.
    • Heavy vehicle demand to serve major construction projects has helped drive Category C COE premiums to new heights. PHOTO: BT FILE

    [SINGAPORE] Strong demand for commercial vehicles (CVs) spurred by the logistics and construction sectors, as well as changing bidding dynamics on policy shifts, are among the factors that have driven Certificate of Entitlement (COE) premiums to a new record.

    Timothy Wong, principal at consultancy Roland Berger, said the rising demand for CVs, especially heavier ones, has been spurred by infrastructure development needs and commercial demands.

    The COE premium for Category C – used for CVs – reached a new record of S$92,223 on Wednesday (May 20), eclipsing the previous high of S$91,101 set in March 2023.

    COECommercial vehiclesConstructionLogistics

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