Gary Hong, general manager at Autobahn Motors, said the vending machine format was aimed at making efficient use of space in land-scarce Singapore as well as standing out from the competition.
"We needed to meet our requirement of storing a lot of cars. At the same time, we wanted to be creative and innovative."
Hong has been approached by developers interested in using the company's Automotive Inventory Management System for parking services, he added.
Vehicles on offer run from modern luxury sports cars to classics, including a 1955 Morgan Plus 4.
US company Carvana also uses vending machine-like towers to sell used cars. In March, it opened an eight-floor structure that holds up to 30 cars in San Antonio, Texas.
In March, a residential building called ''The Dezervator'' opened in Miami, with a drive-in lift which enables residents of the tower block to turn their cars into works of art by driving them into their apartments.