[Levin]

October 28, 2021
2:07 PM +08
Last Updated 4 hours ago

By Chen Lin


SINGAPORE, Oct 28 (Reuters) - In wealthy Singapore, where new vehicle registration is tightly controlled to manage the city state's traffic and pollution, Tesla Inc (TSLA.O) is having a moment: surging sales are gobbling up rivals' market share.

The buying frenzy in one of the world's most expensive places to own a vehicle - Tesla's most basic Model 3 costs nearly S$200,000 (US$148,300) in Singapore, largely due to an ownership levy, compared with less than US$40,000 in the United States - underscores the U.S. firm's ascent in the global auto industry.

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The number of new Teslas on Singapore roads has risen more than ten-fold to 487 in the third quarter, from just 30 in the first half

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Experts say there is no single cause for the surge, although Singapore did announce this year up to S$45,000 subsidy for buyers of electric cars. Because Tesla seems to have fared better than other companies at weathering supply chain issues, it may simply be able to deliver more cars than competitors.


More details at: https://www.reuters.com/business/autos-t...021-10-28/

[Napoleon Porlumpar]

never seen one on the road before leh

[debono]

never seen one on the road before leh

There are a few who owns these electric cars, cos using petrol to drive the cars is adding to our carbon footprints, and this is the cause of global warming/climate change. Therefore many countries are encouraging the use of electric cars...