Committee of Supply 2026 debate, Day 5: Edward Chia on COE reform for access and equity

The original intent of the COE classification system was equity, differentiating between mass market and higher-end vehicles. However, that distinction is increasingly blurred as manufacturers adjust technical specifications. Open Market Value (OMV) would provide a better basis, reflecting the true purchase cost of a vehicle. MP Edward Chia said this in parliament on Wednesday (Mar 4). He added that a tiered adjustment to the final COE price, with discounts for lower-OMV vehicles and a premium for higher-OMV vehicles, could improve accessibility for lower- and middle-income families with caregiving needs.