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Do Private Hire Vehicles (PHV) contribute to higher COE prices?

Updated by MOT
As at September 2025, less than 10% of bids have been won by car leasing companies. Even if we removed all these bids, the price for the marginal bidders below the clearing price would not be much lower. For the bidding exercises over the past few quarters, individuals were the main drivers of the COE prices, as a large majority of COE winning bids were made by individuals.

Topics:

Certificate of Entitlement (COE)

Related questions

What affects COE prices? What is fuelling the high bids in 2025? Are our policy measures (e.g. the one-off injection of 20,000 COEs in Oct 2024 and the 'cut-and-fill' to bring forward COE quota from peak years) ineffective given rising COE prices?

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Why not introduce a Pay-As-You-Bid (PAYB) bidding system to help bring down COE prices?

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Will banning dealers from bidding possibly reduce COE prices?

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Will imposing a COE surcharge on foreigners purchasing cars have an impact on COE prices?

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