Used Car Sales Will Remain Strong As Further COE Cuts Are Planned

Data released by Singapore's Land Transport Authority (LTA) show that while the restricted number of Certificates of Entitlement (COE) has pushed up prices of new cars to the point of being unaffordable for many, this has resulted in record sales for the used car segment. BMI expects this trend to continue in line with our forecast for another year of contraction in the new vehicle market in 2012, although we believe there could be potential for the stock of second-hand cars to be reduced within a few years if consumers continue to hang on to vehicles longer than usual, resulting

To read the full article, please choose one of the following options: