Ride-hailing, COE prices and Singapore’s car-lite goal

A TOYOTA Corolla hybrid can go for as little as US$27,000 (S$36,500) in New York, £31,000 (S$52,200) in London, and around 2.5 million Japanese yen (S$24,200) in Japan.

Here in Singapore, driving a similar Corolla Altis hybrid away from a dealership last month would cost a buyer S$209,888.

Every decade or so, car prices in Singapore surge to stratospheric levels on the back of falling supply and robust demand.