Singapore will not be the first. Albania banned private vehicle ownership for over 40 years until 1991.

Potential, sure. Is it likely? No. Singapore does pretty well with the CoE system and congestion charge.

And eg cars used for Grab and trucks and busses are also privately owned.

Why is this something to be celebrated? Private ownership of land, property too ?

Bet you they won't, because many (most?) Singaporeans think that owning a car is somehow a life achievement.

Singapore would do better banning cars altogether.

They already effectively done that with COE. You essentially own piece of metal, which is only roadworthy if you pay $$$