To own a car in Singapore, a buyer must bid for a certificate that now costs $106,000, equivalent to four Toyota Camry Hybrids in the U.S., as a post-pandemic recovery has driven up the cost of the city-state's vehicle quota system to all-time highs.
How are taxis affordable if cars are so expensive?
Presumably because they don't apply to taxis. Singapore definitely has a licensing system, don't ask me for details.
Taxis in NYC have medallions, that are significantly more than $100k, and that makes the scarcity of taxis just enough that they are in demand but rarely unused.
Taxis in NYC have medallions, that are significantly more than $100k, and that makes the scarcity of taxis just enough that they are in demand but rarely unused.