The Singapore car market has seen significant changes in 2024, with electric vehicles gaining traction and COE premiums reaching new heights.
Electric Vehicle Adoption
Electric vehicles have shown remarkable growth in 2024, with registrations increasing by 45% compared to 2023. This surge can be attributed to:
COE Premium Trends
Certificate of Entitlement (COE) premiums have continued their upward trajectory, with Category A vehicles seeing an average premium of S$95,000 in the first half of 2024.
Popular Vehicle Makes
The data shows Tesla leading in the luxury EV segment, while Toyota maintains its dominance in the hybrid category.