Registrations fell slightly in October, contributing to a further contraction of the car fleet. Electric vehicle registrations also saw a dip in their market share. COE premiums continued their upward trend across both bidding exercises.
- Net fleet change
- -2,953
- Registrations minus deregistrations
- BEV share
- 60%
- Of total registrations
- Petrol share
- 6%
- Of total registrations
- Category A COE
- 132,004
- Second exercise premium
- Category B COE
- 131,901
- Second exercise premium
- Category A PQP vs COE
- -3,289
- Cheaper to renew
October saw Singapore's car fleet shrink by almost 3,000 units, as total deregistrations significantly outpaced new car registrations. This contraction occurred alongside a notable dip in the market share of Battery Electric Vehicles, which fell by 5 points compared to the previous month.
Fleet shrinks as electric vehicle share dips
Singapore's car fleet contracted by 2,953 units in October, with 4,202 new cars registered against 7,155 deregistrations. This marked a continued trend of fleet reduction, worsening slightly from a 2,718-unit shrinkage in September. Battery Electric Vehicles accounted for 60 percent of new registrations, a 5-point decrease from September's 65 percent. Hybrid vehicles maintained a substantial 35 percent share, while petrol cars remained a minor segment at 6 percent of new registrations.
COE premiums climb across both bidding exercises
Certificate of Entitlement premiums continued to rise in October's bidding exercises. Category A closed at 130,001 in the first exercise and then increased by 2,003 to 132,004 in the second. Similarly, Category B premiums rose by 1,801 from 130,100 to 131,901. For those considering renewal, the Quota Premium (PQP) for Category A was 128,715, making it 3,289 cheaper than bidding in the second exercise. Category B's PQP stood at 131,616, which was 285 below its second exercise premium.