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COE Prices Across Both Categories Dipped Significantly During the First Coe Bidding Exercise of the Year 2023 Due to Low Purchase Demands
Lianhe Zaobao, 6 January 2023
“April Koh, General Manager of Cars & Stars Pte Ltd, a parallel import company, also said that the number of visitors to the showroom dropped by approximately 40% – 50% last month, making it one of the quietest months throughout the year. This displays a sign of weak buying momentum within the automotive market.
April Koh believes that, in addition to factors such as rising car ownership certificate prices, uncertain economic outlook and soaring loan interest rates also contributed to the drop in patronage numbers as potential buyers put on hold their purchase plans.”