Singapore’s Land Transit Authority reports a record 96,466 vehicles were scrapped last year, 70% of which were cars. More than half of those cars were estimated to be less than 10 years old. As a result, the national car fleet declined by 1,080 units from the prior year. Singapore offers higher rebates on unused portions of taxes when vehicles are scrapped that are valued higher than prices on the second-hand car market. In January, some 9,085 vehicles were scrapped, up 11% from ...

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