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Buyers in Singapore turn to used cars as supply of new cars constricts further
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Other factors fuelling the demand for used cars include high COE prices.
ST PHOTO: DESMOND WEE
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SINGAPORE - Demand for used cars is poised to grow as the supply of new cars tightens on the back of a small certificate of entitlement (COE) quota and now, delays in vehicle production.
Car manufacturers facing supply chain disruptions such as plant closures, labour shortage and insufficient shipping capacity since the Covid-19 pandemic started two years ago are now facing another dampener - the war in Ukraine, a major supplier of automotive components.
