Crowds flock back to car showrooms

[MacDuck]

Taken from http://www.straitstimes.com/breaking-news/...eekend-20120827

 

 

Crowds flock back to car showrooms over the weekend

 

Published on Aug 27, 2012

By Chia Yan Min

 

Certificate of Entitlement (COE) premiums fell for the first time in several months, drawing buyers back to car showrooms.

 

Car dealers reported that sales last weekend were 5 to 20 per cent higher than on previous weekends this month. Indeed, at least one dealer reported an increase of 50 per cent.

 

Most declined to be named, citing competition issues. They agreed the increase is encouraging, but said it is too early to tell if sales will stay on an upswing.

 

COEs are used by the Government to control the annual vehicular growth rate.

 

Recently, premiums have hit record highs thanks to a sharp fall in the COE quota, causing car sales to moderate. COE supply is tied largely to the number of vehicles taken off the road.

 

At the close of the latest tender last Thursday, COE premiums in all categories except commercial vehicles ended lower for the first time in months. However, current prices are still among the highest seen since the start of the COE system 22 years ago.

 

A spokesman for Komoco Motors, the distributor for Hyundai, said that despite the fall in premiums, "there is still some resistance from prospective customers... sales have been hovering at a low level for a long time".

 

He added: "Though any fall in prices is encouraging to them, people are probably waiting for further drops... many have been waiting for a long time and probably don't mind waiting longer."

 

At Tan Chong Motor, the distributor for Nissan, Mr Ron Lim, the general manager of sales and marketing, noted: "The decline in COE premiums is significant in absolute terms, but as a percentage of the total, given the high premiums, it's only about 10 per cent - not a very large drop."

 

 

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[Steptronic]

Looks like there was enough crowd to bring it back to the previous level!

[Bigbadguy]

Then it will go back up again after increase number of people buying,

 

Ermmm increase of 50% sales, from 2 car to 3 car? lol....

[Subutai]

I used to go show room and look see look see, free coffee/tea/milo and biscuits... then can test drive cars also.... better than arcade.

 

Just kidding.

[RadX]

Yup...the SEs fr Stuttgart n Wearnes been calling me go down.....haha

[Deckbuild]

Yup...the SEs fr Stuttgart n Wearnes been calling me go down.....haha

 

What u waiting for, ask them to pick u from your work place.

[RadX]

What u waiting for, ask them to pick u from your work place.

 

wait for HS to call

[Deckbuild]

I think the recent deals are not bad, they slash quite a bit off the selling price thats why ppl are going back to look at cars. It's gonna be a swing for some time I guess.

[Enye]

sheep will always be sheep

 

very predictable

 

[Help1]

why cant these ppl just hold back the showroom visits and purchase of cars till few more rounds of COEs (perhaps until yr end), so that car prices will be push further down with the COE price slide....really these ppl are just goondoos, go in now and drive the price up to the previous level and come back to the square one again.

[Donut]

Yup...the SEs fr Stuttgart n Wearnes been calling me go down.....haha

 

they need your $$, bro.

 

 

[Nullifi3d]

Yup...the SEs fr Stuttgart n Wearnes been calling me go down.....haha

 

Wearnes asking you to buy Renault ar?

 

French cars don't suit you. Volvo? Unless its the S80 casket-mobile.

[Bigbadguy]

why cant these ppl just hold back the showroom visits and purchase of cars till few more rounds of COEs (perhaps until yr end), so that car prices will be push further down with the COE price slide....really these ppl are just goondoos, go in now and drive the price up to the previous level and come back to the square one again.

 

Cos most Sporean Kiasu and Kiasi. so once drop price they chiong and snatch lol.

[Deckbuild]

why cant these ppl just hold back the showroom visits and purchase of cars till few more rounds of COEs (perhaps until yr end), so that car prices will be push further down with the COE price slide....really these ppl are just goondoos, go in now and drive the price up to the previous level and come back to the square one again.

 

How long u want them to wait? Maybe they have been waiting already and since it's down so don't wait anymore?

 

I think u can only ask them why don't go for 2nd hand cars. Anyway since they have the money to pay why care.

[Highmount]

oh crap ! Next round COE bidding price sure shoot up again !

[13177]

why cant these ppl just hold back the showroom visits and purchase of cars till few more rounds of COEs (perhaps until yr end), so that car prices will be push further down with the COE price slide....really these ppl are just goondoos, go in now and drive the price up to the previous level and come back to the square one again.

Year end too late liao, cause next round COE quota cut will be next year feb. Also year end most people will change car for new year, so i believe year end COE should reach $100K!

[RadX]

Wearnes asking you to buy Renault ar?

 

French cars don't suit you. Volvo? Unless its the S80 casket-mobile.

 

the big cat lah....knn...Renault??? not with a 10 foot pole man

[Sk65]

our COE can be a topic by itself in behaviour science.

 

y people need to care for others (eg: collectively hold back purchase)

instead of rushing in the weekend when COE drop.

 

and y big player bid so high,

if all big player bar-kat,

then COE = 20K level liao.

 

if la.....