Owning a compact sedan in the city-state costs, on average, around 125,000 Singapore dollars ($90,430), according to local financial website Value Champion. A car in Singapore can cost five times the amount it retails for in the US, per local financial website Budget Direct.
In addition to the base cost of a car, there are also additional fees to account for in Singapore, including a Certificate of Entitlement (COE). COE is a license that allows an individual to own and operate a vehicle in Singapore for 10 years. As of June 2022, the average cost of COE for a basic car is S$74,000 ($53,407), according to the Land Transport Authority.
Cars are also subject to excise duty and goods and services tax, an additional registration fee, and a price rebate and surcharge that depends on the vehicle’s carbon emissions.
Insider has compiled a US-to-Singapore price comparison for five popular car models. All car prices are sourced from the manufacturers’ official websites in each country. All Singapore car prices in this article, except for Tesla, include COE; the Tesla car price does not include COE.
1. Tesla Model 3
Cost in the US: $59,490
Cost in Singapore: S$114,455 ($82,604), without COE
On average, Singapore is the most expensive country in the world to buy a Tesla, according to an index by InsideEVs. The US is the cheapest place to purchase the electric vehicle, per InsideEVs’ index.
3. Audi A8
Cost in the US: $86,500
Cost in Singapore: S$516,777 ($373,033)
The flagship Audi vehicle costs four times more in Singapore than it does in the US. The high prices don’t seem to deter Singapore buyers: The German luxury car manufacturer was the seventh-most popular by sales in the city-state in 2021.
4. Honda Odyssey (8-seater)
Cost in the US: $37,340
Cost in Singapore: S$226,999 ($163,801)
But there’s a huge gap in the prices of Honda vehicles, with the minivan retailing for more than four times more in Singapore than in the US.
5. Mercedes-AMG E53
Cost in the US: $75,000
Cost in Singapore: S$510,888 ($368,652)
The German luxury car manufacturer was the third-most popular brand in Singapore by sales in 2021. In the US, Mercedes finished second to Tesla as the most popular luxury car manufacturer by registration in 2021.
The E35 costs almost five times more in Singapore than it does in the US. In Singapore, luxury brands like Mercedes are subject to a 220% tax of a car’s open market value exceeding S$80,000 ($57,760).