High taxes and lack in exclusivity are driving down sales of supercars in Singapore, leaving dealers of such exotics worried.
The stringent car loan restrictions introduced last year is cited as a primary reason to the increase in the number of cars under Cat A COE.
Six months after stringent loan restrictions were imposed on the auto industry, used car industry is struggling, with many downsizing or closing down.
Over the final weekend before the loan reprieve ends for used car dealers, it was a quiet atmosphere at used car marts as there were fewer deals being done.
The Straits Times reported that the once excess supply of used-hand cars is diminishing and currently there is a shortage of demand.
The Government will be studying the effect of recent car loan curbs over a period of time before it decides on adjustments.
The struggling used car industry is expected to get a temporary silver lining after recent announcements by the MAS.
Car loan restrictions imposed by MAS will be lifted for 60 days and restrictions will be extended to all financial entities.
Used car dealers are largely affected by the stringent auto loan restrictions and are urging landlords to slash rental prices as they try to make ends meet.
Used car dealers submit fresh applications to MAS to appeal the new auto loan restrictions as profits plunge with reduced sales across the market.
More details have been released on how the physically disabled will be exempted from the new curbs on car loan financing.
The new MAS loan restriction imposed last week will not apply to the disabled, DPM Tharman Shanmugaratnam announces in his Budget debate wrap-up speech.
Several Members of Parliament (MP) continued to voice their concerns over the new financing restrictions set out by the MAS.
The Straits Times held its first car forum to answer questions from motorists about the recent financing restrictions implemented by the MAS.
Two Members of Parliament (MP) have voiced out their concerns over the new financing restrictions set out by the Monetary Authority of Singapore last week.
In a move to close loopholes in the new financing restrictions, the Government is set to review the Hire Purchase Act.
Let's find out how the new financing restrictions set out by the MAS may affect Certificate of Entitlement (COE) prices.
Despite the newly imposed auto loan restrictions, a number of parallel importers and used car dealers could still offer 100 percent loans till Friday!