07 Jul '18, 12pm

Buyers throng car showrooms after COE prices fall to lowest in 8 years

Buyers throng car showrooms after COE prices fall to lowest in 8 years

SINGAPORE - Car showrooms along Leng Kee Road and Alexandra Road were abuzz with activity on Saturday (July 7), with potential buyers turning up in force. Dealers told The Straits Times that footfall was between 20 to 30 per cent higher than a regular weekend, and they similarly expect the crowds to flock back on Sunday (July 8). While most declined to reveal how many orders they received, Tan Chong Motors' head of sales and marketing Ron Lim said that "sales is up more than three times". Buying interest has been revved up after the Certificate of Entitlement (COE) prices for cars hit their lowest in nearly a decade. At the latest tender exercise which ended on Wednesday (July 4), the premium for cars up to 1,600cc and 130bhp dipped by 26.7 per cent to $25,000, while the COE price for cars above 1,600cc or 130bhp dropped by 8.6 per cent to $31,000. Industry players attribu...

Full article: https://www.straitstimes.com/singapore/buyers-throng-car-...

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