Why can a car in Singapore cost ₹97 lakh before you buy it?

Singapore follows Vehicle Quota System (VQS), under which people must bid for a limited number of certificates granting a 10-year right to own a vehicle. The system was introduced to reduce traffic congestion as Singapore became one of the world’s most densely populated countries. As of September 2026, motorists pay over ₹97 lakh for an opportunity to buy a car