Singapore's Road Transport Market Price

In order to reduce the number of transportation vehicles in the road,  Singapore creates sky-high market prices in road transport. Singapore’s Electronic Road Pricing (ERP) itself involves demand-responsive prices for every gantry and for every half-hour period of the day. They are not deman-responsive in real time but are revised every few months, based on average traffic speeds. In addition, there is a quota for new vehicle registrations under the Vehicle Quota System (VQS). This creates a market for the right to buy a car via on-line auctions for ‘Certificates of Entitlement’ (COEs).The current COE price for a small car is S$29,000. The COE price changes twice every month. This is added on top of the market price and to all of the other taxes, such as the 110% Additional Registration Fee. All these are ochestrated as means to drop the number of private road transports in Singapore and increase the use of public transports. Thus, creating a traffic jam-free and hassle-free Singapore roads.