BMW, Merc boom as rich shrug off higher taxes

In the city-state’s latest bi-monthly auction, 125 bidders successfully offered as much as S$116,020 (RM384,983) just for the right to own an “open category” auto, which can be applied toward any vehicle type but frequently ends up being used for larger cars in the densely-populated island. — Bloomberg

SINGAPORE: A luxury car tax in Singapore is helping push the cost of owning a BMW or Mercedes to the equivalent of a typical local family’s entire income for the year.

In the city-state’s latest bi-monthly auction, 125 bidders successfully offered as much as S$116,020 (RM384,983) just for the right to own an “open category” auto, which can be applied toward any vehicle type but frequently ends up being used for larger cars in the densely-populated island.