Analysts say COE premiums driven by Chinese EVs, early adoption incentives

COE premiums hit record highs in the second half of this year, with Category A cars fetching prices not seen before in almost a decade. Analysts said the surge was driven by stronger demand for Chinese electric vehicles and early adoption rebates. According to data from the Land Transport Authority, more than 12,000 Chinese EVs were registered between January and October, surpassing the 7,772 recorded last year. During this period, their collective share has made up over 60% of Singapore's EV market. Charlotte Lim reports.