Tesla sales in Singapore soar even though registration fees have pushed Model 3 prices to $150K

Tesla Singapore

Even in the face of skyrocketing prices due to increasing registration fees, Tesla has seen the number of cars on the roads in Singapore increase exponentially this year.

During the third quarter a total of 487 new Teslas were registered in the country, 314 of which were registered in September alone. That is up from just 30 in the entire first half of the year, and was enough to make it the sixth most popular car brand behind Toyota (778) and Honda (466). (via Reuters)

The massive spike in sales is thanks to the introduction of the Model 3, which opened for orders in February and began deliveries this summer.

Making the numbers even more impressive is how much Tesla fans in Singapore have to pay for the Model 3 due to rising Certificate of Entitlement (COE) prices. The COE entitles the owner to driver the car for a period of 10 years, and was introduced to help control traffic and emissions.

With the COE the entry-level Standard Range Plus (SR+) costs the equivalent of nearly $150,000 USD. The Performance Model 3 is over $175,000 USD.

Taking the sting off the prices somewhat is a recently introduced ~$33,000 USD subsidy for electric vehicles (EVs).

First Tesla Service Center in Singapore to open in July

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Founder and Editor-in-chief of Drive Tesla Canada | Darryn@DriveTeslaCanada.ca Have a Tesla tip? Email tips@driveteslacanada.ca, or DM us on Twitter @DriveTeslaca