Why is it so expensive to own a car in Singapore?

Expat Academy Why is it so expensive to own a car in Singapore?  Impact of the Vehicle Quota System (VQS)

Singapore can be one of the most expensive places in the world to purchase a vehicle because of the Certificate of Entitlement (COE), which is required for purchasing a car and allows for ownership for a period of ten years. Singapore uses a Vehicle Quota System (VQS) to determine the number of COEs made available to the public. The VQS uses a number of factors to determine the quota, including the number of vehicles removed from the road, allowable growth, expiration of existing COEs, vehicle type, etc.

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