Boost in number of car orders over the past weekend might exceed COE supply

According to The Straits Times, industry players claim the number of car orders made over the past weekend alone could exceed the Certificate of Entitlement (COE) supply at the next bidding - which would result in higher premiums. However, the players believe the increase might not be drastic if bidding is not aggressive.

The lower COE premiums and car prices saw increased showroom traffic, and stronger sales over the past weekend although motor traders declined to reveal specific figures.

They expect the strong reception at the showrooms to continue during the upcoming weekends as well.

A Volkswagen spokesman also claimed that crowds at its Alexandra and MacPherson showrooms were about three times the usual number - with strong interest on Category A Jetta and Golf models.

Audi Singapore Senior Manager for Public Relations Lee Nian Tjoe said both showroom traffic and sales were 'much stronger than usual' for the German brand.

According to Mr. Raymond Tang, Honorary Secretary of the Singapore Vehicle Traders Association, used car dealers also received more customers on Sunday and many were considering used cars with two to three years left on their COE.