Singapore is a place where cars are too costly (2-4x price than the USA) and it is still luxury for many Singaporeans.
Cars have higher price here because of the city have limited land and there are no long possibilities to expand its land area like other usual cities. So government needs to get hike up prices of the vehicles.
Last year Singapore government made the decision to not adding cars in the city from the February 2018, but it doesn’t mean that people now can’t buy new cars in the city.
People need COE(Certificates of Entitlement) to buy new cars which costs probably S$41,617 for the small vehicles. It is for category A, B and D which includes Cars and Motorcycle.
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Personal or rental vehicles are 600,000 now in Singapore and it is serving to 5.6 million people who are living in this island-city. 12% of the total area of the city is covered by the road whenever city’s area is not so big and not possible to expand its area, so citizen facing huge traffic frequently. So, Singapore’s Land Transport Authority decided to freeze the numbers of the vehicle, now its growth is only 0.25 but after February it will be zero.
The growth rate of goods vehicles and buses (Category C) will remain unchanged at 0.25 percent until 2021, to give businesses more time to improve the efficiency of logistics operations and reduce the number of commercial vehicles needed, said LTA.
The vehicle growth rate will be reviewed again in 2020. By the way, in 2015 already this happened, LTA decreased the vehicles growth 0.5 to 0.25 and now it is going to the zero growth rate.
This zero doesn’t mean that no new car in the city. That COE has an expiration date and after its expiration date, new COE is being issued so people can buy with the new one but COEs are in limited too. And if the old car going to the scrap then a slot becomes empty and new car is allowed to fill it.
So it is not true that Singaporeans can’t buy new cars from February but after expired COE or old car move away from the road, then any citizen has the chance to get a new car. While Singapore has one of the best public transport systems and government going to invest billion dollars in it to make it better and convenient ever then almost no citizen will have an issue with transportation.