Used cars assume shine with tight COE supply

Consumers are turning to the secondary market because of a shrinking supply of certificates of entitlement.
Consumers are turning to the secondary market because of a shrinking supply of certificates of entitlement.PHOTO: ST FILE

SINGAPORE - Going by the first seven months, sales of used cars this year could turn out to be among the highest in a decade as consumers turn to the secondary market because of a shrinking supply of certificates of entitlement (COE).

According to Land Transport Authority figures, this year's sales volume is poised to overtake last year's. The average monthly transactions from January to July was 8,009 - up from 6,706 last year and 7,693 in 2019.

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