Singapore Car Permit Hits $100k, World's Most Expensive

Matichon•International•19d ago

Reader Briefing

Singapore's exorbitant car ownership permit costs have reached record highs, making car ownership the most expensive globally.

•Singaporeans now face nearly $100,000 USD (approximately 3.33 million Baht) for a car ownership permit (COE).
•The cost of COE for small engine cars (under 1.6 liters) has quadrupled since before the COVID-19 pandemic.
•This policy aims to limit the total number of vehicles on Singapore's roads to around 1 million.
•The permit cost alone is equivalent to purchasing four Toyota Corollas in the US.

•The cost for a car ownership permit (COE) in Singapore has reached nearly $100,000 USD, equivalent to approximately 3.33 million Thai Baht.
•The cost of COE for cars with engine sizes below 1.6 liters has increased by four times compared to the pre-COVID-19 pandemic period.
•Singapore, with a population of about 6.1 million, regularly auctions permits to control the number of vehicles on its roads.
•The COE system grants ownership rights for 10 years and aims to maintain vehicle numbers around 1 million.
•The high cost of permits makes Singapore the most expensive country in the world to purchase a car.
•A car permit in Singapore is comparable to buying four Toyota Corollas in the USA.
•A Toyota Corolla in Singapore, including permit, registration, and taxes, costs approximately 4.65 million Thai Baht.
•In October 2023, permits for large cars exceeded $100,000 USD, while small car permits were around $77,500 USD.

Full article content is available on the original source.

Jeffery Tan

"Demand remains strong as electric vehicles become more competitively priced."

ความต้องการยังคงมีอยู่อย่างแข็งแกร่ง เนื่องจากรถยนต์ไฟฟ้ามีราคาที่แข่งขันได้มากขึ้น

Singapore(สิงคโปร์)ℹ️

The country where car ownership permits have reached record high prices.

Certificate of Entitlement (COE)(ใบอนุญาตครอบครองรถยนต์ขนาดเล็ก(COE))

A permit required for car ownership in Singapore, the cost of which has surged to record highs.

Toyota Corolla(โตโยต้า โคโรลลา)ℹ️

A car model used as a reference point to illustrate the high cost of car ownership permits in Singapore.

Singapore's Ministry of Transport(กระทรวงคมนาคมของสิงคโปร์)

The government ministry whose minister commented on the high demand for car ownership permits.

Jeffery Tan(นายเจฟฟรีย์ เซียว)

Singapore's Minister of Transport, who commented on the strong demand for vehicles.

Electric vehicles(รถยนต์ไฟฟ้า)

A type of vehicle whose increasing competitiveness is cited as a reason for continued strong demand for car ownership permits in Singapore.