S Iswaran on households owning more than one car
As of 31 October 2022, about 471,000 households in Singapore own cars. Of these, about 12 per cent own two cars and fewer than three per cent own three or more cars. The figures were given in Parliament on Tuesday (Nov 29) by Transport Minister S Iswaran, in reply to an MP’s question. On the suggestion that this component of Certificate of Entitlement (COE) ownership might be driving price increases, Mr Iswaran said the proportion accounted for by households in these categories has been relatively stable over time, with no major shift in patterns of demand. If anything, he said, multiple car ownership among individuals has probably been on a declining trend. The minister said any effort to curb car ownership beyond the first car would not necessarily have a dampening effect on COE prices.
As of 31 October 2022, about 471,000 households in Singapore own cars. Of these, about 12 per cent own two cars and fewer than three per cent own three or more cars. The figures were given in Parliament on Tuesday (Nov 29) by Transport Minister S Iswaran, in reply to an MP’s question. On the suggestion that this component of Certificate of Entitlement (COE) ownership might be driving price increases, Mr Iswaran said the proportion accounted for by households in these categories has been relatively stable over time, with no major shift in patterns of demand. If anything, he said, multiple car ownership among individuals has probably been on a declining trend. The minister said any effort to curb car ownership beyond the first car would not necessarily have a dampening effect on COE prices.
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