Singapore Car Permit Costs Drop to Lowest in Eight Years
In Singapore, where a Toyota Corolla Altis costs more than S$90,000 ($66,000), a key component of the price tag—a mandatory car-ownership permit—has fallen to an eight-year low of S$25,000.
In Singapore, where a Toyota Corolla Altis costs more than S$90,000 ($66,000), a key component of the price tag -- a mandatory car-ownership permit -- has fallen to an eight-year low of S$25,000. Prices of the so-called certificates of entitlement fluctuate depending on demand and government supply, and are sharply lower as buyers had rushed to secure cars before stricter emissions criteria for rebates kicked in July 1. A “price correction” is likely in the next round of COE bidding on July 18, according to Samuel Yong, marketing director of Inchcape Singapore, the local distributor of Toyota and Suzuki cars.