Used cars assume shine with tight COE supply

New: Gift this subscriber-only story to your friends and family

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.

Already a subscriber? 

Dive deeper at $0.99/month

Want more exclusives, sharp insights into what's happening at home and abroad? Subscribe to stay informed.

Unlock these benefits

  • All subscriber-only content on ST app and straitstimes.com

  • Easy access any time via ST app on 1 mobile device

  • 2-week e-paper archive so you never miss out on any topic that matters to you

Join ST's Telegram channel and get the latest breaking news delivered to you.

A version of this article appeared in the print edition of The Straits Times on August 28, 2021, with the headline Used cars assume shine with tight COE supply. Subscribe