Commenting on high Certificate of Entitlement (COE) premiums, SMU Assistant Professor of Strategy & Entrepreneurship (Education) Terence Fan noted that subsidies and lower electric vehicle prices help offset high COE premiums, while rising incomes and economic optimism are also driving car purchases. He added that Singapore’s gross domestic product (GDP) gains were expected to translate into household income, and if residents remained confident about the outlook, they would continue making big-ticket purchases such as cars.
