Car-Hailing Increases Singapore's Rental Car Segment
Singapore’s rental car population continues to expand due to the popularity of car-hailing companies such as Uber and Grab.
A Uber user requests a ride through the app. Photo courtesy of Uber.
A Uber user requests a ride through the app. Photo courtesy of Uber.
Singapore’s rental car population continues to expand due to the popularity of car-hailing companies such as Uber and Grab, according to a report by The Strait Times.
There are now over 40,000 rental cars in Singapore, according to the latest figures from the Land Transport Authority. This is 40% more than the end of 2015, according to the report.
Singapore’s rental car fleet has expanded by 173% since 2012, the year before Uber and Grab started, according to the report. Uber accounts for nearly 15,000 vehicles while Grab accounts for around 10,000 vehicles.
Currently, Singapore’s car-hailing segment is almost the size of the cab population of 28,000 vehicles, says the report.
Click here for the full Straits Times report.
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