More Singaporeans Choosing Rental Cars Over Ownership
Recent data shows a significant shift in how people in Singapore choose to travel. While owning a private vehicle has long been a common goal for many, the number of private cars on the road is currently falling. In contrast, the number of rental cars has reached a record high.
According to the latest figures, private cars now make up 79 percent of the total car population in Singapore. This is a noticeable decrease from 82.5 percent in 2021. During the same period, the share of rental cars grew from 10.5 percent to 14.9 percent.
Experts suggest that this change is driven by an increase in self-drive rentals. Many residents are finding that renting a vehicle for specific needs is more convenient and cost-effective than managing the high expenses of car ownership, such as the Certificate of Entitlement (COE) and maintenance costs.
As the landscape of personal transport changes, these trends highlight a move toward more flexible mobility options. Whether this shift will continue as the primary way for Singaporeans to get around remains to be seen, but the current data clearly shows a preference for renting over buying.