2nd-hand car dealers sold most stock;dip in supply expected

[Darthrevan]

 

The glut in used cars is over and a shortage looms.

 

Second-hand car dealers have managed to sell most of the cars in their inventory after a two-month reprieve from the authorities.

 

At the same time, they are not buying used cars as drivers hold on to their wheels in the wake of drastic loan curbs.

 

A Land Transport Authority spokesman said about 4,600 of the 7,000 used cars that dealers had acquired before the car loan restrictions kicked in had been sold as of Monday.

 

Source: http://www.straitstimes.com/breaking-news/...y-expected-2013

[Voodooman]

The glut in used cars is over and a shortage looms.

 

Second-hand car dealers have managed to sell most of the cars in their inventory after a two-month reprieve from the authorities.

 

At the same time, they are not buying used cars as drivers hold on to their wheels in the wake of drastic loan curbs.

 

A Land Transport Authority spokesman said about 4,600 of the 7,000 used cars that dealers had acquired before the car loan restrictions kicked in had been sold as of Monday.

 

Source: http://www.straitstimes.com/breaking-news/...y-expected-2013

 

Buy at paper and insist on selling at pre CM prices, bloody hell, they are the one killing the used car market. If they are willing to be more reasonable, I am sure volume would have moved up and more will change cars, buy low sell low, buy high sell high. Now who wants to sell when they have to take such a big loss even when trading one used car for another.

 

[Duckduck]

Buy at paper and insist on selling at pre CM prices, bloody hell, they are the one killing the used car market. If they are willing to be more reasonable, I am sure volume would have moved up and more will change cars, buy low sell low, buy high sell high. Now who wants to sell when they have to take such a big loss even when trading one used car for another.

 

exactly so since less r trading in, means there'll b less buying new cars...

[Csxcsxcsx]

wanna bluff people to go down and buy their remaining stock again. everytime use the its now or never tactic.

[Tiger1]

Nvrmind. U people dun bite, we can just go to blackie previous owner for help again. See who laugh the loudest.

[Ixus75]

Another con job

[Chucky2007]

exactly so since less r trading in, means there'll b less buying new cars...

Exactly.

 

That's why new car sales will be taking a tumbling from July onwards.

 

But so many kan cheong spiders now who can't wait to jump in buy new cars.. that's why its great if all their orders get filled now.

[Ixus75]

I envy man Cheong spiders as they appear to be loaded

[Darthrevan]

wanna bluff people to go down and buy their remaining stock again. everytime use the its now or never tactic.

 

there's a sucker born every minute

[Wt_know]

kancheong spiders are ought to be chopped ... no mercy!

 

once the dealers cleared the current 7000 cars, they will cut another pattern ...

long term 3/4/5 years leasing option is coming ...

 

there's a sucker born every minute

 

[13177]

Many people would rather kancheong spiders and got chopped, then later wait car price went up or change of car loan ruling again, and then got stuck cannot get a car?!

[Troychew]

Hi All, do you think is still a good time to sell my car? I am very tired of driving in Singapore now with all the heavy traffic nowadays.

[Zvicki]

these bloody 2nd car dealer.

[Kyrios]

Huh? Lidat considerd good business meh? Only 4600 sold out of 7000 cars..with only days to go on the 2 month extension period. Still got 2400 overpriced cars out there.

[Toothiewabbit]

Hi All, do you think is still a good time to sell my car? I am very tired of driving in Singapore now with all the heavy traffic nowadays.

Yup, heavier traffic prob due to the additional 4600 cars on the road.

 

Jams/slow moving traffic are more frequent now.

 

[Troychew]

if their business not so good means also difficult to sell my car liao.

[Ixus75]

How about direct sell? If price is reasonable, there will be buyers

[Hosaybo]

if their business not so good means also difficult to sell my car liao.

 

It's not too difficult to sell lah.... it's just the price. Dealers are very cautious of the take in price while direct car seller has a certain expectation. The 2 don't meet at a common point. Now I think they only take in scrap value + body value (which is a couple of low K more).