Only 5 per cent of the half a million cars here are aged 10 years or more,
estimates by The Straits Times based on official figures suggest.
At the end of last year, more cars - 7.1 per cent - were that old, going by
Land Transport Authority (LTA) data.
In 2000, it was 16.6 per cent.
On the flip side, the percentage of new cars has continued to rise.
About 85 per cent of cars today are under four years old. In 2000, this group
made up only 38 per cent of the car population.
Car enthusiast and doctor Ivor Thevathasan, 64, lamented: "The culture here is
'new is good'."
He called this a shame because cars were a part of people's memories or
history.
But the majority of motorists do not share his view.
Despite fees to extend the lifespan of cars beyond 10 years being at rock
bottom, most motorists are not keen to keep their cars.
In the first six months of this year, the average fees for certificate of
entitlement (COE) revalidations were $12,565 for cars up to 1,600cc and $14,051
for cars above 1,600cc.
The rates were at least double this amount as recently as 2004.
Even so, the LTA said there were only 595 car COE revalidations in the first
six months of this year - down from 984 in the same period last year and 722 in
2004.
Manager F.K. Leong, 55, is among those who see no reason to drive an old car.
He changes his every two to three years.
He said: "If I can drive a new car without having to fork out a lump sum, why
not?"
Sliding car prices in the past 10 years or so have made it possible for
motorists like him to trade in an old car for a down payment on a new one, and
to continue instalment payments that are about the same as their previous car.
"I see car ownership as a lifelong lease," he said.
However, this trend may tail off soon because car prices are on the rise.
Also, those who bought cars in recent years took out huge loans. This means
they would have to pay a lot more to switch to a new vehicle.
Car owners might therefore have no choice but to keep their rides a bit longer
from now on.
And here lies the irony: Cars may not be as durable as before.
"The old Rolls-Royces, Bentleys, Mercedeses and such were made to last," Dr
Ivor noted.
The president of the Malaysia Singapore Vintage Car Register said that cars in
the past were largely mechanical, but were now increasingly electronic.
