Singapore Car dealers say demand for commercial vehicles has gone up

Singapore Car dealers say demand for commercial vehicles has gone up

By Wong Mun Wai, 

SINGAPORE: Car dealers said the percentage of commercial vehicles under the Certificate of Entitlement (COE)’s Open Category has doubled in the past few months to about 10 percent. This is because the demand for such vehicles has gone up.

According to the latest bidding results, COE prices for most categories have declined.

COEs for cars less than 1,600cc (Category A) dropped by S$1,330 to S$15,600, while those for cars that are more than 1,600cc (Category B) now cost S$17,510, down by S$1,991.

COEs for goods vehicles and buses (Category C) stand at S$18,151, down from S$18,900, while COEs for the Open Category (Category E) fell S$938 to S$18,451.

Only COEs for motorcycles (Category D) moved higher - up S$140 to S$1,152.

The Open Category tends to follow the highest costing category, given the high demand. And traditionally, dealers use that category to secure sales in other categories.

The Open Category certificates can be used for both small and large cars, but with the increased demand in commercial vehicles, the spillover effect not only pushes up the price of Open Category certificates, but also brings the prices of both categories C and E closer together.
- CNA/so
Source : Channel NewsAsia  - 24 April 2008

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