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Lower COE prices but few buyers
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CAUTIOUS: Despite a dip in COE prices last Wednesday, many are still reluctant to buy a new car.
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<!--end storyhighlight--><!-- CONTENT : start -->EVEN though Certificate of Entitlement (COE) prices have cooled from a 10-year high at last Wednesday's tender, car showrooms are yet to see a return of teeming crowds.
Of the seven car dealers in Alexandra Road and Leng Kee Road that my paper visited yesterday, only three reported seeing crowds bigger than last weekend's.
The dealers estimated the number of visitors to have grown by about 15 to 25 per cent, and attributed the increase to the lower COE prices.
Of the three showrooms that reported better turnouts, two said they have inked more deals over the weekend, while the remaining one saw "long queues" for test drives.
Operational manager Wilson Low, 44, who test-drove a Hyundai i45 sedan, said: "Price is an important factor, and since the COE prices have fallen...it's very likely I'll buy a car soon."
At the showroom of German luxury brand Audi, at least one new group of potential buyers was seen entering the premises every few minutes.
But not all who visited the showrooms were ready to make a purchase. For engineer Gad Tan, "the drop in the COE prices is minimal".
The 49-year-old noted that today's COE prices are around $20,000 higher than those in 2007, and added that "a drop of $2,000 to $3,000" doesn't help much.
Retiree Henry Wee, 63, agreed, saying that he will seal a deal "only if car prices fall further."
Mr Tan and Mr Wee were among many visitors who had adopted a wait-and-see approach, sizing up the market before signing any deals.
While most were looking out for value buys, some showroom visitors arrived with another purpose: to have their current car's resale value assessed.
Mr Roland Foo and Mr Kenny Ng, both 50, were two such people at the Volvo showroom yesterday.
Mr Ng, who works in the transport industry, said: "I'm still shopping around for good deals. If I get a good offer, I'll consider changing my car."
Similarly, a 49-year-old accountant, who wanted to be known only as Thomas, was also on the look out for bargains.
He said: "Overall, COE prices are going up, so I'm hoping to get a better deal now."
[email protected]
Cum and buy lah! Help my son out lah! *hee*hee*<!-- CONTENT : end -->
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<!--end storyhighlight--><!-- CONTENT : start -->EVEN though Certificate of Entitlement (COE) prices have cooled from a 10-year high at last Wednesday's tender, car showrooms are yet to see a return of teeming crowds.
Of the seven car dealers in Alexandra Road and Leng Kee Road that my paper visited yesterday, only three reported seeing crowds bigger than last weekend's.
The dealers estimated the number of visitors to have grown by about 15 to 25 per cent, and attributed the increase to the lower COE prices.
Of the three showrooms that reported better turnouts, two said they have inked more deals over the weekend, while the remaining one saw "long queues" for test drives.
Operational manager Wilson Low, 44, who test-drove a Hyundai i45 sedan, said: "Price is an important factor, and since the COE prices have fallen...it's very likely I'll buy a car soon."
At the showroom of German luxury brand Audi, at least one new group of potential buyers was seen entering the premises every few minutes.
But not all who visited the showrooms were ready to make a purchase. For engineer Gad Tan, "the drop in the COE prices is minimal".
The 49-year-old noted that today's COE prices are around $20,000 higher than those in 2007, and added that "a drop of $2,000 to $3,000" doesn't help much.
Retiree Henry Wee, 63, agreed, saying that he will seal a deal "only if car prices fall further."
Mr Tan and Mr Wee were among many visitors who had adopted a wait-and-see approach, sizing up the market before signing any deals.
While most were looking out for value buys, some showroom visitors arrived with another purpose: to have their current car's resale value assessed.
Mr Roland Foo and Mr Kenny Ng, both 50, were two such people at the Volvo showroom yesterday.
Mr Ng, who works in the transport industry, said: "I'm still shopping around for good deals. If I get a good offer, I'll consider changing my car."
Similarly, a 49-year-old accountant, who wanted to be known only as Thomas, was also on the look out for bargains.
He said: "Overall, COE prices are going up, so I'm hoping to get a better deal now."
[email protected]
Cum and buy lah! Help my son out lah! *hee*hee*
