Singapore’s Luxury Car Tax and Its Impact on Mercedes-Benz Ownership
Singapore’s luxury car tax, which limits the number of autos on the road to reduce congestion and pollution, is making BMW or Mercedes-Benz ownership almost as expensive as a typical family’s annual income in the island country. However, the same is drumming up sales of the three-pointed star brand there. According to Automotive News, auctions for the “open category” permit, which can be applied to any vehicle but is often used for larger cars, now cost as much as S$116,020 ($87,000) in Singapore. That’s equivalent to 92 percent of the nation’s median annual household income. Despite government hikes on registration fees, the latest bidding round shows the higher tax isn’t… Continue Reading »
