One of the reasons why COE prices are so high now is because of the upcoming changes to the Vehicular Emissions Scheme (VES) and EV Early Adoption Incentive (EEAI).
You can find out the changes in greater detail here, but if COE prices stay relatively consistent, these changes will result in pricier cars. This is why car buyers are flooding showrooms now and putting their names down for purchases before the changes take effect.
To help take the heat off high COE prices, Tesla is now offering a S$5,000 incentive for all customers who order and collect their new Tesla electric vehicle by 31 December 2025. Practically speaking, this means the latest you can order a Tesla and take advantage of this offer is before the last COE bidding of the year, which is 17 Dec 2025.
Furthermore, Tesla is also offering financing with interest rates from as low as 1.54%, which can amount to substantial savings, especially for buyers who are taking sizeable loans.
This promotion applies to both the Model 3 and Model Y, which we have written about and reviewed extensively in the past. Check out our articles below.
Finally, here are the prices of the various Tesla models with the S$5,000 incentive and based on the latest COE prices (24 Oct bidding exercise).
Model | Price |
Model 3 RWD 110 (Cat A) | S$210,402 |
Model 3 RWD | S$221,975 |
Model 3 Long Range RWD | S$241,260 |
Model 3 Performance | S$270,940 |
Model Y RWD 110 (Cat A) | S$225,476 |
Model Y RWD | S$238,391 |
Model Y Long Range AWD | S$262,515 |