According to khabarkhodro,The Model 3 is selling
remarkably well in Singapore despite its hefty price tag.
The island city-state of Singapore, located in Southeast
Asia, is widely regarded as the most expensive place in the world to buy a new
car. Taxes and import costs (as well as emissions charges for non-EVs) result
in cars typically costing around three to four times as much in Singapore as
they would in the US. An entry-level Honda Civic for example retails at the
equivalent of $83,000 there.
So, when Tesla entered the Singaporean market earlier
this year locals weren’t expecting their cars to be cheap – even if their EV
status meant they could dodge all the emissions charges. And they weren’t
wrong, with a base Model 3 SR+ costing the equivalent of around $125k after all
incentives have been applied and registration fees paid. Fancy a Model 3
Performance, perhaps with a few options? Prepare to fork out over $160,000
after you’ve paid your mandatory Certificate of Entitlement required for all
new vehicles in Singapore. Tesla doesn’t sell the Long Range Model 3 in
Singapore, meanwhile the Model S, X and Y are also all yet to reach the island.
Despite all the above, Tesla are doing quite well in
Singapore. The firm sold 314 cars in September – almost as much as Hyundai.
Overall Tesla was the 6th best-selling automaker in Singapore last month.
The Singaporean government has heavily incentivized
electric vehicles and offers up to S$45,000 ($33,360) in incentives to help
improve EV adoption and to combat all the high taxes as well as the massive COE
fee they also charge.
Singapore aims to have 60,000 EV chargers by 2030 – a
remarkably high figure given the island has an area of only 281 square miles.
The city-state also wants to phase out ICE vehicles by 2040, which they are
gradually doing through exorbitant emissions charges, naturally.