Number of rental cars hits new high of 95,857 in 2025

Rental cars now make up nearly 15 per cent of Singapore’s total car population, hitting a record 95,857 vehicles in 2025 as the appeal of privately owned cars continues to wane on the back of high certificate of entitlement (COE) premiums. Industry experts said the growth in the rental car population may come from people who register cars as rental vehicles as a way to get around loan restrictions imposed on private cars. Assoc Prof Bao Te from NTU said that driving a ride-hailing vehicle gives those who need a car the flexibility to get additional income to offset the high cost of ownership.

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