Have you been noticing a lot more Tesla cars on Singapore roads lately?
If you have, you are not alone.
Hundreds of Teslas delivered to Singapore buyers
Reuters has confirmed what many motorists have suspected the last few weeks: Drivers here have snapped up the brand name electric vehicle in droves, and there are now 487 Teslas on Singapore's roads in the third quarter of 2021.
This figure is more than 10 times the number of Teslas in Singapore barely four months ago, when there were just 30 here, driven by the earliest early adopters.
This data was culled from the Land Transport Authority (LTA) by Reuters.
Tesla delivered its first cars from its Toa Payoh sales portal and service centre on July 29, 2021.
About S$200,000 for one Tesla
The most basic Tesla Model 3 costs nearly S$200,000 in Singapore, when Additional Registration Fee (ARF) and COE (Certificate of Entitlement) price are factored in, and after deducting certain rebates for buying a green car.
In the United States, the cheapest model goes for less than US$40,000 (S$53,800), Reuters reported.
Tesla a popular choice
A steeper price did not do much for those who really wanted to get their hands on the car from the official sales office in Singapore.
In September 2021, 314 Teslas were registered in Singapore, putting the brand on par with Hyundai, but trailing Toyota's 778 and Honda's 466.
Reuters highlighted that Tesla effectively catapulted to become Singapore's sixth-most popular car brand in September, outselling Nissan, Audi and Kia -- but this can be attributed to pent-up demand.
To give a sense of proportion: Tesla so far made up 1.4 per cent of 36,629 new car registrations in Singapore in 2021.
Toyota, which has the lion's share of the market, made up 20.4 per cent.
Tesla's website said new buyers still have to wait four to 12 weeks.
Tesla stock price increased again
Tesla's entry into the Singapore market coincided with the company surpassing US$1 trillion in market value recently, making its founder and CEO Elon Musk, the world's richest man according to net worth, as well as leaving short sellers disappointed again.
Tesla's trillion-dollar market value overshadows the combined value of five of its biggest rivals, Toyota Motor Corp, Volkswagen AG, Daimler AG, Ford Motor Co and General Motors.
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