To own a car in Singapore, a buyer must bid for a certificate that now costs more than $106,000 (S$145,000), equivalent to four Toyota Camry Hybrids in the US, as a post-pandemic recovery has driven up the cost of the country’s vehicle quota system to all-time highs.
Singapore has a 10-year “certificate of entitlement” (COE) system, introduced in 1990, to control the number of vehicles in the small city-state, which is home to 5.9 million people and can be driven across in less than an hour.
