Singapore's Car Market: The Shocking Cost of Driving
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- Опубликовано: 25 июл 2024
- Singapore's bizarre car market, where three letters C.O.E (certificate of entitlement) can add a staggering $100,000 to the cost of a car. Why owning a car in this tiny, bustling city-state is both a luxury and a practical necessity. Singapore's pursuit of becoming a "CarLite" nation impacts car enthusiasts, commuters, and the environment, and these challenges are shaping the future of transportation in Garden City.
Report: Julienne Chan
Camera: Alex Tan
Editing: Kirsten Jungclaus
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REV - The Global Auto and Mobility Show from Deutsche Welle
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00:00 Singapore car market
00:52 Certificate Of Entitlement
02:09 Buying a new car
02:25 Second hand cars
03:00 90's Singapore & C.O.E
03:26 Singapore transport
04:04 CarLite City
04:45 Scraped cars second life
05:34 Urban planning
06:03 Future of driving in Singapore 
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There should be a fair balloting system instead of highest bids winning COEs but Singaporeans don't seem interested.
Sadly because most middle incomers live in their own bubble.
Firstly, the price of the COE is not the highest but the lowest winning bid. The bidding system is not as simple as you think. Secondly, not everyone needs a car so how can it be fair when this person got the ballot and then sell to another buyer? Singaporeans and the authorities have thought about all these issues. It is too naive to think the locals are apathetic.
@@CalvinK-the_old_fogeyWhat..Obviously prices are dictated by how much wealthier bidders are prepared to pay and not the other way around. And who's to judge who needs a car more than someone else? Rules can very easily be put in place to prevent ballot winners from on-selling within a certain period. Singapore is great with implementing all sorts of rules.
Its a grown man toy, it won't ever be fair
I believe sg motorcycles are also super expensive. 8k to 10k in just tax aka COE. COE only is valid for 10 years, not forever.😅
5:00 it's actually going to either South Asia or East Africa, UAE is just a transit country
3:54 the reflection of the water already revealed his plate number.
So many used Singaporean cars are in Jamaica
And in Myanmar
Currently driving a ex Singapore Mercedes s class W140 . Import it into my country 2002.
That is why Grab Taxi 🚕 business became popular.
COE bidding process is not transparent enough. COE for commercial vehicles like taxis and cars for private hire vehicle should have a separate COE category and car allotment.
It's definitely insane how high the cost of car ownership is in Singapore. I grew up in Singapore and was always amazed by the huge price tags of car ownership. I have since moved to the US a few years ago and been fortunate enough to be able to afford multiple cars for the cost of maybe one car in Singapore
World most expensive country to buy a car but taxi & ride hailing ride fare are way very low comparing to other countries like Japan, Australia, London & the list continues.
Have anyone ever thought about it, driver daily overhead such as rental/lease, petrol, carpark and many more.... everything are getting expensive but fare most of the time are still pathetic.
For driver, more daily trips plus longer working hours. How to have work life balance like that?
Western tourists also wonder and ask driver how they earn with low ride fares in Singapore.
public transport is not fantastic here. it's only good if you are going short distances
I think this is because more and more singaporean are doing grab, gojek, tada driver as a full time job in recent years. Gov should open more high salary job opportunity for us citizen to solve this issues. Plus high COE also affect consumer as grab,delivery, private bus operator will increase price because of high coe as all using the same COE pool.
Have you already seen an increase in prices of shared transportation in Singapore based on the rising COE prices?
Check out algeria a 2001 car Peugeot 406 sold for 24000€
This is insane.
its weird you cant resell the car in the country
It is possible but it does not make financial sense. So it is better to re-export.
I just hope people who don't live in the cities can get around easily with public transport... Otherwise there should be an exception for residents in teh country areas..
The whole country is a city
@@Dankboi420i think certain parts of Singapore can still be considered country side
@@kierangan7944Not really. Most of the population live less than 5 min away from a bus stop, or less than 10 min away from a train station. If you're not, then you're most likely rich enough to live on private property,which means a cost of a car is nothing to that person.
Might have to all in on my bank account account
Well, how fair is that for the poorest citizens? If you are rich enough, you can buy your right to drive, right? If they really intend to keep polution and traffic down, there should be granted by a lottery of some sort.
COE already putting put the poor from owning motorcycles in Singapore. Poor in Singapore mostly received more penalty and more challenges outcome to escape poverty due to easy access of Malaysian labourers across the causeway with advantages. Malaysian labourers already owned motorcycles at lower price. Putting out many poor Singaporean opportunities.
Why don't you take a step back and ask why is there is need to get a hunk of depreciating metal when it takes 20 minutes to drive from west to east in a small country like Singapore ? And on top of that the public transport is world class. Won't Singapore have terrible jams like in the US and UK and smog killing places like Dehli and Bangkok if everyone owns cars?
It is not about poor or rich, it all about having a practical transport system given the size of Singapore
@@SivalinPuthery I agree, that’s why it should not be a question of money, but of necessity. A poor citizen will never be able to drive, even if he really needs it for mobility, family needs, etc.
“How fair is that for the poorest citizens” ? That’s a very naive question because that statement applies to all countries anytime. Tell me which country treat their poorest citizens ‘fairly’? 😂
@@CalvinK-the_old_fogey A lot of western Europe treats its poorest citizens fairly. Perhaps too fairly, such that it drains the government's coffers at an alarming rate.
Car seller and grab control the coe prices...
The car seller buy new car for rent.
Can't imagine anything stupider. Cars still go around, but only rich people's. It's a war against the poor
It always was, the ruling class lives by "rules for thee and not for me".
Disagree. Driving a car is a privilege, not a right in a congested city state. There is only so much road capacity in Singapore. If everyone was able to own a car, the roads would be grid-locked and a disproportionate amount of land would be needed to garage parked cars. Which defeats the mobility purpose of owning a car. Singapore fortunately has good alternatives for non-car owners - excellent public tranport, good footpaths and bike paths. I like my cars, but managed to live there for 3 years without owning a car.
NOT one hundred....147K is more accurate
At the time the story was made, it was around the 100,000 mark. But we take it prices have risen since!
🤯🤯🤯🤯🤯🤯
Just another rich autocratic regime where only the wealthiest matter
It's everywhere nowadays, the EU is going the same route. Working people should own nothing and be happy about it, while the rich drive their sports cars, live in mansions and enjoy the highest quality products.
Some people have offers for free cars. Those who are needed by others gets offers of free cars. Reject offers by saying - commercial vehicles are better because those are not permitted to cross the land crossings to see lower. Public transport is often quicker. International drivers are a terror on the roads, especially since 2014. Running costs are not worth the trouble. The places accessible are not worth my time. For the maintenance costs alone, parked, i can eat like-a-king and show-off spending big at the cheapest-place on a daily basis... Social with car-groups are like strangulation. Merlion is a story and a warning signal to puke-worthy disgusting self-important characters. Don't mind the price. There are many pretending such things to be worth something in order to off-load to you. They think stupids have money but they need to off-load. The mechanics need upgrades. The parts need certification and warranty. The designs need to be old-school. Might as well use the public-transport which other countries cannot copy efffectively.
Meanwhile, us neighbouring Malaysians still have to live with 300% import tax to protect P1 and P2. Thanks, Dr. M.
That's only on foreign cars. Locally assembled Perodua, Proton, and other brands like Mercedes-Benz and Volkswagen don't have the import tax.
Second hand is affordable even with the lower salaries. But as you said....Dr M and his cronies.
Dr M alreary not in power.
Current goverment can change the policy, if the want
Solution, give companies tax break for allowing employees Work From Home.
Stop with the Car centric misinformation. In a tiny place like Singapore a car is NOT up ward mobility tool. It's just another burdensome depreciating assets which you can't fully exploit. There is no cross country highway cruises in Singapore. It's not going to help the poor have better access to anything. Using a 1.6 Tonne machine just to move a few people around a super dense city is foolish.
We see what you mean, but the point the story tried to make is that one of the ways in which Singapore controls traffic density and air pollution, is by making cars less accessible to people. And as you can see, our journalist herself relied on public transport even while filming this report.
@@DWREV WOOPS sorry. My comment was not directed at the video. It was all the commenters spamming comments how owning a private car is basically a necessity to function. Which only the rich can afford. Turning it into a class war over an imaginary resource. The comment section is the problem.
Maybe in the future Malaysian registered vehicles espcially cars become a necessity for growing Singaporean economy ride hailing, PHV with Malaysian registered cars. With current COE price for motorcycles, Malaysian motorcycles already flooded in Singaporean roads due to business necessity for motorcycles. Singaporeans lose a lot with COE.
SG Gov can create law overnight to stop anything which causes them to lose money.
move to electric
They are entitled to their country's stance on area, ecofriendly, revenue to government. Well applauded initiative
No down-payment required, and able to use the car for delivery jobs, actually anyone in Singapore can own a car if they really want to.😊
My colleague from Singapore was in town this week and told us about this. I think it's genius, keep cars off the road, minimize traffic, and have amazing public transport.
3:38 Hayaaa that guy with fancy expensive car just wanna enjoy driving. Why spending so much money on imported goods when this guy could work in the city local bus company on night shift? ayaaa. He could save money promote better environment and contribute for better economy laaa.
This guy must migrate to USA 🇺🇸 or Canada 🇨🇦 where you can drive coast to coast for over 5k kms
This guy doesn't care about such nonsense like the environment or how expensive it is, these things are for poor people to consider.
This is one of the reasons why Singapore has one of the LOWEST birth rates in the world. The policies of pricing out personal transportations for the average family men with aging parents and Young Children is ABYSMAL!
Using land scarcity as an excuse by the powers that be and their supporters no longer holds water when you see Ultra rich individuals high up in the social hierarchy owning MULTIPLE cars.. 🤦🏼
"owning MULTIPLE cars" Doesn't mean they actually get driven and take up space on the road. Those are garage queens. Land Scarcity is not an excuse, it's just a physical fact.
There really are not many people here who NEED cars.
Our public transportation system is far reaching and affordable, and safe for children to go to school on their own.
Our ride share apps are not too expensive as well, should you need to get somewhere via car.
Self-driving taxis will wipe out most reasons for car ownership, other than the prestige and sports car enthusiasts.
Totally doubt it'll catch on.
verry bad law
So it seems. But it is an extreme system because the country is trying to reduce Car emissions to avoid future serious health issues. Look at China's severe air pollutions due to high pollution. Those who can not afforded the CEO & all poor Citizens.
Maybe Singapore is right - and we are absolutely wrong.
One thing I can not agree with is that Singapore separates stores from houses, which is rather bad as if I simply want to buy a loaf of bread, I should not have to (a) spend 30-minutes each way of commuting worth of emissions, and (b) lose an additional 1 hour of my time.
You don't need to commute an hour just to get bread. There are super markets within walking distance or a quick 5 to 10 min bus ride from anywhere.
@@entrydenied thank you for the feedback!
My comment was based on the information I gathered from the video - as I never been to Singapore.
Cheers!
@@hitardo Pretty much the government here has planning thought out. The different residential towns were planned so that residents don't really have to get out into the city area to get their necessities. Each residential town is self suffcient, with schools, shopping and etc.
@@jasperteo8443 thank you for your feedback.
Do you like living in Singapore?
I would really appreciate a honest opinion from a local, preferably from one local that have traveled to some other West and Asian cities.
Sure, the people in power can afford anything here. Irony is, they are voted into power by the peasants 😅
Most realistic comment in here👍
I guess you don't know about Turkey. Turkey is the country where cars are the most expensive. A 20 year old Toyota Corolla is $20k or a New 2023 Camry is $140k. Mercedes S series 450-500k dollars ..
Add $50k to Turkey price and you have Singapore price. Didn't you know...Singapore gov wants to be #1 in the world for everything.
Singapore still more expensive
In case you didn't know. The same car you're saying is 100k usd, and on top of that 85k usd for just the certificate alone. So go figure.
You cant compare because the Turkish lira is currently weak against the us dollar so you find all imported cars expensive. Turkey will also have to protect it's locally manufactured cars so it has to keep the price of imported cars higher to encourage your local population to buy local. Singapore dollar is weaker than the US dollar however, even when you convert we pay 3-4 times more than America, Europe and Australia.
Singaporean cars are expensive until you know Sri Lankan car prices.
Singapore still more expensive
A new 1.6 litre Toyota Corolla Altis selling at around SGD165000. And the 1.8 Hybrid at SGD225000. How much Sri Lanka is selling for these respectively?
Well somebody needs to fund that police state, so it makes sense.