Car dealers muscling into used-car business

The move by major car dealers is in response to the shrinking supply of COEs.
The move by major car dealers is in response to the shrinking supply of COEs.PHOTO: ST FILE

SINGAPORE - In response to a shrinking supply of certificates of entitlement (COEs), major car dealers are reeling in used car businesses previously done with third-party partners in a multimillion-dollar revamp designed to shore up revenue.

For the majority of those partners, the payouts and timing are a welcome cash-out in their senior years.

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