Car Rentals Soar in Singapore, the Land of $80,000 Corollas

Singapore is one of the most expensive places in the world to own a car. So for an increasing number of commuters, ride-sharing companies Uber Technologies Inc. and Grab are providing cheaper alternatives: lease a car from them and drive enough hours to cover rental costs, or just hail a ride everywhere instead. The number of rental cars on the road has more than doubled since 2013 while private ownership has dropped approximately 9 percent.

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