A basic commuter car costs over S180,000( US135,000) due to a compulsory 10-year quota license (COE/certificate of entitlement) that alone costs S$100,000+, plus registration taxes scaling up to 320% of the car's base value. Total running costs (tolls, parking, road tax) easily add S1,000–S2,000+ per month.
Singapore is so small though and cabs are cheap and I never needed a car. I can see why Waymo will be very attractive.
A lot of people get a car when they have kids as taking grab with a car seat can be unwieldy. Also, COE wasn’t always $100K, many people are still on legacy COE when it was $30-$50K
Really? I would have expected CoEs to be roughly evenly staggered.
Also keep in mind that when lots of CoEs expire at the same time, you'll also have more demand in the market from those people whose CoE just expired, but who still want a car.
shell0x · · focus · HN ↗
Singapore is so small though and cabs are cheap and I never needed a car. I can see why Waymo will be very attractive.
vachina · · focus · HN ↗
shalmanese · · focus · HN ↗
eru · · focus · HN ↗
What vintage was that?
eloisant · · focus · HN ↗
eru · · focus · HN ↗
Also keep in mind that when lots of CoEs expire at the same time, you'll also have more demand in the market from those people whose CoE just expired, but who still want a car.