Usually we gauge the McDonalds Big Mac index as an informal way to measure purchasing power parity (PPP) among nations, but there was a study done by CarBuyer Singapore that may interest petrolheads. Knowing the Toyota Corolla is the world’s best selling car and sold in every part of the world, let’s replace the Big Mac with Toyota’s most recognisable car and we have the Toyota Corolla Global Price Index.
Since each country offers a Corolla with different trim (i.e., there’s no Corolla Altis offered in Japan), therefore, this index is based on the entry level Corolla model from each country.
Toyota Corolla Global Price Index
Country/ Variant /Trim /Local Price in SGD
—————————————————————————–
Singapore 1.6L 7CVT STD – $135,988.00
Cuba USD40,000 (est) – $50,440.00
Nigeria 1.8L 7CVT ? ₦ 6,000,000 – $46,110.00
Indonesia 1.6L 7CVT ‘G’ Rp410,000,000 – $45,510.00
Brazil 1.8l 4AT ? R 79,990 – $45,388.09
Malaysia 1.8L 7CVT ‘G’ RM 114,015.30 – $43,954.26
Germany 1.6L 7CVT ‘Life’ EUR22,500- $38,949.53
Thailand 1.8L 7CVT G B829,000 – $32,147.00
South Africa 1.6L 7CVT Prestige R252,900 – $30,302.73
Taiwan 1.8L 7CVT Deluxe NT7,260,000 – $30,247.00
Australia 1.8L 7CVT ‘Ascent 4D’ A$25,812 – $30,143.51
China 1.6 4AT ‘G’ RMB 140,800 – $28,582.54
USA 1.8L 4AT ‘L’ USD$18,210 – $22,962.81
Japan 1.5L 7CVT ‘G’ ¥1,697,143 – $20,741.46
So it came as no surprise that just like many regional ratings, Singapore came out tops as the most expensive country on this planet to buy a brand new Toyota Corolla. Based on today’s conversion, it costs the buyer approximately USD$108,504.01, five times the equivalent of the base Corolla one can buy in Texas. For the price of a base Corolla Altis you pay at Toyota’s dealership at Bishan, you could actually gets the keys for a Jaguar F-Type R Coupe, BMW M5, Mercedes S-Class S550 and Range Rover in the United States. This is the result of the high Certificate of Entitlement (COE) prices and the Additional Registration Fee (tax) enforced on cars in Singapore.
In second place is Cuba which we featured a story on this before. Perhaps the biggest surprise is Malaysia is not the second most expensive country to buy a new Corolla Altis, but instead we’re placed at number six. Interestingly, the car prices in Nigeria are higher than Malaysia.
In the end, apart from Thailand, car prices in South East Asia are still among the highest in the world. Having said that, unless you have tons of cash, Singapore will be the last place on earth to be a petrolhead.
[Source: CarBuyer Singapore]
