I'm not sure that's a good lens to look through: the total number of cars in Singapore is fixed, and ownership cost adjusts (via the CoE auction) to balance supply and demand.
So there's no drop in total car ownership to explain: that one is held fixed. What we'd need to explain is why comparatively more older people and fewer younger people drive.
So there's no drop in total car ownership to explain: that one is held fixed. What we'd need to explain is why comparatively more older people and fewer younger people drive.