Singapore’s car leasing sector has seen significant upheaval over the past year, with more than 220 firms shutting down in 2025 alone. As rental companies fold and fleets are repossessed, drivers who rely on leased vehicles for their livelihoods have been left scrambling raising questions about how an industry that benefited from strong demand ended up so exposed.

Kenneth Lee, Honorary Treasurer of the Vehicle Rental Association, and Ng Chee Haw, General Manager at Bolt Car Leasing, join the Breakfast Show to unpack what’s driving the shake-out, from COE volatility and aggressive price competition to debt-fuelled expansion, and what drivers should realistically be watching out for as the sector recalibrates.