Lower COE prices draw buyers to showrooms

Car showrooms were packed over the weekend as buyers sought to take advantage of lower certificate of entitlement (COE) prices.
Car showrooms were packed over the weekend as buyers sought to take advantage of lower certificate of entitlement (COE) prices. ST PHOTO: CHEW SENG KIM

Car showrooms were packed over the weekend as buyers sought to take advantage of lower certificate of entitlement (COE) prices.

The Straits Times visited three showrooms yesterday and each one was bustling, with people showing interest especially in smaller cars, which saw the sharpest dip in COE price at the latest tender.

Across the board, dealerships reported a sharp rise in foot traffic since the latest COE tender.

Nissan, for instance, said the number of customers its sales staff were attending to doubled.

Last Wednesday, the COE price for cars up to 1,600cc and 130bhp finished at $36,001 - its lowest since November 2010. Industry players attributed the 16.1 per cent price fall to factors like private-hire firms stopping their fleet expansion, and the new Euro 6 emission standard, which came into effect this month.

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A version of this article appeared in the print edition of The Straits Times on September 11, 2017, with the headline 'Lower COE prices draw buyers to showrooms'. Print Edition | Subscribe