Bumpy road for used car traders

Shen Tat Enterprises, which had been in business for almost 30 years, has closed down and most of its cars were repossessed by lenders when it could not service its loans.
Shen Tat Enterprises, which had been in business for almost 30 years, has closed down and most of its cars were repossessed by lenders when it could not service its loans.ST PHOTO: JEREMY KWAN

Downturn in COE prices cited as main reason; market player calls for lifting of import levy

The used car market is sputtering as sliding certificate of entitlement (COE) prices render stocks bought with higher premiums commercially unviable.

The slowdown, which started in July when COEs for cars up to 1,600cc fell to eight-year lows, has claimed at least one company.

TO READ THE FULL ARTICLE

Thank you for reading The Straits Times

You have reached one of our Premium stories. To continue reading, get access now or log in if you are a subscriber.

What is Premium?

A version of this article appeared in the print edition of The Sunday Times on October 21, 2018, with the headline 'Bumpy road for used car traders'. Print Edition | Subscribe