A little to add here. I believe the average milage would be
about 20,000km per year. Secondly, fuel price isn't going to stay
S$1.55, I own a car for less than 1 year and already saw 2 times
fuel price increase. Thirdly, you are getting a much better engine
(proven reliability), lesser maintainence. On fourth, a much much
larger boot since traveling is an issue here. On fifth, the
steermatic is definitely fun to drive, good for overtaking and
stuff too. Lastly, higher OMV means either greater re-sale value or
scrap value.
Overall, other than looks and initial price, I seriously don't know
why it is so popular.