New car sales hike over the weekend
19 Mar 2013|7,705 views
New car dealers recorded strong sales over the past weekend, with some clocking up to four times the average weekend sales. Experts believe that the plunge in COE prices, coupled with the availability of financing options from credit firms, are part of the reason for the surge.
Speaking to The Straits Times, Managing Director of Wearnes Automotive for Volvo, Mr Victor Kwan, commented that sales in the last weekend was the best in recent months, with figures up to four times that of an average weekend.
Dealerships for other marques such as Mercedes-Benz, BMW, Volkswagen and Nissan recorded similar hikes in their sales.
With the strong demand, dealers believe that COE premiums for big cars will return to its previous $70,000 mark in the next bidding.
New car dealers recorded strong sales over the past weekend, with some clocking up to four times the average weekend sales. Experts believe that the plunge in COE prices, coupled with the availability of financing options from credit firms, are part of the reason for the surge.
Speaking to The Straits Times, Managing Director of Wearnes Automotive for Volvo, Mr Victor Kwan, commented that sales in the last weekend was the best in recent months, with figures up to four times that of an average weekend.
Dealerships for other marques such as Mercedes-Benz, BMW, Volkswagen and Nissan recorded similar hikes in their sales.
With the strong demand, dealers believe that COE premiums for big cars will return to its previous $70,000 mark in the next bidding.
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