Top 5 Reasons Why People Own Cars in Singapore
Owning a car in Singapore is perceived as a status symbol and not just a means of transport. To regulate the amount of vehicles on the road, the government has introduced regulations that make car ownership more expensive. Additionally, the number of private-owned cars on the road has decreased in the last decade as Singapore experiences a shift towards private-hire cars and ride-sharing. However, even with such heavy costs levied, Singaporeans still wish to own cars. Below are some reasons why Singaporeans still want to own cars.
As owning and maintaining a car in Singapore is quite expensive, car ownership is a symbol of success often associated with the rich and upper-middle class citizens of Singapore. Such a status symbol is highly desired by citizens due to the stature and admiration associated. While car ownership has declined over the past few years, a surprising statistic is being reported. Ownership of high end car brands like BMW and Mercedes are on the rise in Singapore while brands like Toyota and Hyundai are on decline. This shows that cars are increasingly desired as a status symbol and not simply a mode of transport in Singapore.
Singapore has an extensive infrastructure of public transport such as our public bus and train (MRT) networks. In recent years however, Singapore’s MRT network has been experiencing increased disruption and downtime. Frequent breakdowns and disruptions create inconvenience for the commuters and reduce efficiency of the workforce. Owning a car would mean being able to commute with ease-of-mind without being affected by breakdowns of public transport for many.
Personal Space (Privacy)
Commuting on public transport is an experience bereft of privacy, especially during peak hours. Having fellow commuters listening in on a phone call or looking over your shoulder at your screen is a big no-no to many even if unintentional. Being able to commute in the privacy of your own vehicle is definitely a contributing factor as to why people want to own cars in Singapore.
Cars are a major property in Singapore. The introduction of car and ride sharing programs have been identified as a good form of business and a good form of investment. Many agents have designated fees generated from such programs to be remitted directly to the car owners. Anybody would want some extra cash flow in their bank accounts. Cars, besides being a personal property, can create more money, and consequently more property.
Decreased Travelling Time to Certain Remote Places
Singapore’s public transport network has established routes and stops for its public bus and MRT systems. Commuters that use public transportation get on and alight at specific locations. However, some locations are more remote and situated away from these stops. In some cases there are also a lack of services feeding these stops. Having to walk a significant distance to arrive at the destination is quite an inconvenience. Thus, owning a personal vehicle would increase accessibility and convenience for people who own cars.