Motor traders dangle discounts as COE prices slide
Published on May 9, 2014 6:20 AM
Some motor traders are offering discounts of up to 17 per cent to entice buyers while certificate of entitlement (COE) prices for small cars are at a 21-month low.
At least four major traders here have cut prices for Category A cars with engine capacity of up to 1,600cc, a check by The Straits Times showed yesterday.
Volvo, for instance, is selling its popular V40 Turbodiesel at $119,999, at a discount of about 8 per cent, or $10,000, compared to its price at the previous COE tender.
Visits to Volvo's showroom have gone up by about 50 per cent since Tuesday's COE tender, which is "good for a weekday", said Mr Victor Kwan, managing director of Wearnes Automotive.
To continue reading, log in if you are a subscriber
Enjoy 2 weeks of unlimited digital access to The Straits Times. Get your free access now!