SINGAPORE – Factors behind the unrelenting rise in certificate of entitlement (COE) prices – which have more than doubled in just one year – have been discussed extensively.
The leading one is the unbridled growth of private-hire car fleets and, in tandem, access to easy financing. Since their arrival 10 years ago, the total private-hire car population has ballooned by nearly five times to 78,106 as at August 2023, while the private car population has inched up by merely 6.4 per cent to 574,473.
Already a subscriber? Log in
Read the full story and more at $9.90/month
Get exclusive reports and insights with more than 500 subscriber-only articles every month
ST One Digital
$9.90/month
No contract
ST app access on 1 mobile device
Unlock these benefits
All subscriber-only content on ST app and straitstimes.com
Easy access any time via ST app on 1 mobile device
E-paper with 2-week archive so you won't miss out on content that matters to you
