Last week, Carcloud exhibited at CommunicAsia, a huge technology conference at Marina Bay Sands in Singapore.
In addition to our time at the conference, Singapore is a great place to visit and unlike any other when it comes to car rental.
The thing is, cars are expensive to buy in Singapore. Really expensive.
A Toyota Corolla will cost you around $115,000 Singapore Dollars (around $80,000 USD). That’s not a typo – take a look at the infographic at the bottom of this post for the full breakdown. Most of this of course is government tax in one form or another.
Singapore also has fantastic public transport, so most car rentals are to drivers of Uber or their local equivalent, Grab.
We have some new solutions for car rental operators renting cars to “ride share” drivers, so that works for us.
As governments in densely populated cities look for ways to decrease car ownership, it’s interesting to view Singapore as an extreme example of how government policy can affect consumer behaviour.
What would your rental business look like if a sedan cost $80,000?