The cost of a Certificate of Entitlement (COE), required to register small cars in Singapore, has reached a historic high. This was reported by Qazaqyia.kz citing Kursiv Media.
According to Channel NewsAsia, the certificate for Category A cars rose to 139,000 Singapore dollars (about 49 million tenge). Over two weeks, the price increased by 7,000 dollars, or 5.3%. This category includes cars with engine capacity up to 1.6 liters and power output not exceeding 130 horsepower. For electric vehicles, a separate power threshold applies — up to 110 kW (147 hp).
Notably, the certificate for small cars turned out to be more expensive than for larger and more powerful vehicles. For instance, in Category B the certificate cost 132,300 Singapore dollars (about 46.8 million tenge), adding 433 dollars. In the open Category E, suitable for various types of cars, the price reached 136,000 dollars (approximately 48 million tenge). For commercial transport, the cost was 92,000 dollars, and for motorcycles — 10,700.
In total, 4,722 bids were submitted at the auction against a quota of 3,259 certificates. In Category A, 2,018 participants competed for 1,189 permits.
The COE system is designed to limit the number of cars on Singapore's roads. To register a vehicle, the owner must win the auction and purchase a certificate that grants the right to operate the vehicle for 10 years. The permit is paid separately from the cost of the car, taxes, and other fees. After the term expires, it can be extended for a set fee or the car can be deregistered.
The price depends on demand and the number of available certificates. The authorities set quotas, and auction participants compete for a limited number of permits.
Earlier, the Land Transport Authority proposed merging Categories A and B, and introducing surcharges and discounts for cars of different market values. This is due to the narrowing gap between the categories and the development of electric vehicles, which have made the previous division by power and engine capacity less effective.
During the public discussion of the reform, most participants supported the idea of surcharges and discounts. However, Transport Minister Jeffrey Siow said that the authorities are still studying the proposals received and a final decision has not yet been made.
Earlier, Kursiv Auto reported in which cases Kazakhstanis must pay tax on the resale of a car.