Rising private-hire car population, surging trips a roadblock to Singapore’s car-lite goal?

SINGAPORE’S ambition to transform into a car-lite society is becoming increasingly costly.

Against the backdrop of a zero-vehicle-growth policy, the limited supply of certificates of entitlement (COEs) has sent the premiums sky-high.

Car dealers have pointed the finger at private-hire vehicle (PHV) operators, accusing them of sucking up the COE supply in the course of building up their fleets, hence the stratospheric price levels for the document that gives one the right to own a car.