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, 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.