Proposed COE changes could reshape Singapore’s used car market, say dealers
Dealers and analysts say some mass-market vehicles could lose resale value under the proposed COE changes, while demand for pre-owned luxury cars may rise.
Singapore's proposed Certificate of Entitlement (COE) system changes could significantly reshape the used car market, according to dealers and analysts. The Land Transport Authority (LTA) has proposed merging categories A and B, which classify cars by engine size and power, into a single COE category. This change, along with introducing fees and rebates for different car models based on their open market value (OMV), could alter the price gap between new and second-hand vehicles.
Mass-market vehicles may lose resale value if cheaper new cars put downward pressure on used-car prices, while pre-owned luxury cars could become more attractive to buyers if proposed surcharges make new luxury models significantly more expensive.
Brief written by urgent.news from CNA - Singapore's own syndicated text. Machine-written — may contain errors; check the original before relying on it.
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- Proposed COE changes could reshape Singapore’s used car market, say dealers channelnewsasia.com
