More traffic, brisk sales at car showrooms over weekend
Published on May 12, 2014 6:14 AM
Some car dealerships saw footfall double and orders increase over the weekend, after an unexpected dive in certificate of entitlement (COE) premiums last week.
When The Straits Times visited showrooms for Toyota, Mazda, Volkswagen, Volvo and Mercedes on Sunday afternoon, each had dozens of people milling around and meeting sales staff.
Premiums for small cars with an engine capacity of up to 1,600cc tumbled nearly 16 per cent to $60,002 - a 21-month low - last Wednesday.
This placed some entry-level Japanese makes below the psychological $100,000 mark. The 1.5- litre Mazda 3 sedan, for instance, is now $99,988, down from $113,988 two weeks ago.
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