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Their owners are now a little Singapoorer.
The cost of cars in this country, you can be sure those guys don't get poor.
As a Singaporean, those guys might not even be Singaporean citizens. :)
The cost to drive on the road is probably about the same as the cost to buy one.
About 10 years ago a Chevy Malibu had a sticker price of $120k USD, which included registration for 10 years.
It’s about $120k USD just for the registration now, depending on the car.
Why?
In case you’re serious; in most places in the world, cars are a luxury and taxed as such. In island nation in particular, imports are also very expensive in general and import taxes are most of their revenues.
TLDR: tax the rich, poor don’t need cars in sane cities.
Because it’s a small island country and there’s no need for cars. Public transit there is intense. Automated light rail between communities connect to subways that connect to everything. Their buses are great too.
They want to limit the number of cars in use in the country. I believe they limit it to around 1M. The price of the tax actually increases/decreases depending on demand to keep the total number around 1M.
And, after ten years, the car must be scrapped and taken away from Singapore
In Hong Kong, the parking spot for a car may cost more than the car itself.
Nice