<TABLE class=bodytext border=0 cellSpacing=0 cellPadding=0 width=560><TBODY><TR><TD class=bodytext height=7>>> ASIAONE / MOTORING / NEWS / STORY </TD></TR></TBODY></TABLE><!-- start story details --><TABLE border=0 cellSpacing=0 cellPadding=0 width=560><TBODY><TR><TD height=7 colSpan=3>
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</TD></TR><TR><TD class=content_subtitle align=left>Fri, Apr 23, 2010
my paper </TD></TR><TR><TD height=15>
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</TD></TR><!-- Story With Image End --><TR><TD class=bodytext_10pt colSpan=3><!-- CONTENT : start -->[Showroom of Tan Chong Motors, Singapore agent for Nissan, along Dunearn Road.]
By Pamela Chow
CAR dealers have reacted quickly to the dip in prices of Certificates of Entitlement (COE) by slashing their prices - some by as much as $7,600 per car.
<TABLE border=0 cellSpacing=2 cellPadding=2 width=300 align=right><TBODY><TR><TD><SCRIPT language=JavaScript src="/static/ads/scripts/adsimu.js"></SCRIPT><SCRIPT type=text/javascript src="http://adtag.asiaone.com/tag/a1motoring/js/asiaone_motoring_imu.js"></SCRIPT><SCRIPT type=text/javascript src="http://ad.doubleclick.net/adj/AsiaOneMotoring/;pos=1;adtype=1;adtype=2;adtype=3;adtype=4;adtype=5;tile=5;sz=300x250;ord=7070222886053559?"></SCRIPT><!-- Copyright DoubleClick Inc., All rights reserved. --><!-- This code was autogenerated @ Mon Apr 05 22:45:54 EDT 2010 --><SCRIPT src="http://s0.2mdn.net/879366/flashwrite_1_2.js"></SCRIPT><OBJECT id=FLASH_AD classid=clsid
27CDB6E-AE6D-11cf-96B8-444553540000 width=300 height=250>
<EMBED src="http://s0.2mdn.net/2392433/pca09_2010Apr06_300x250.swf?clickTAG=http%3A//ad.doubleclick.net/click%253Bh%253Dv8/3985/3/0/%252a/n%253B223861803%253B0-0%253B1%253B39581297%253B4307-300/250%253B36249353/36267231/1%253B%253B%257Esscs%253D%253fhttp%3A//www.asiaone.com/specials/pca2009/" quality=high wmode=opaque swLiveConnect=TRUE WIDTH="300" HEIGHT="250" bgcolor=# TYPE="application/x-shockwave-flash" AllowScriptAccess="never"></EMBED></OBJECT><NOSCRIPT></NOSCRIPT></TD></TR></TBODY></TABLE>They hope to draw in more sales by doing so, they told my paper yesterday.</P>Prices in the latest COE tender - results of which were released on Wednesday - fell across the board for all cars, due to low demand over previous weeks.
COE prices shot up in the April 7 tender, with prices in some categories reaching a 10-year high.
Consumers had rushed to beat an anticipated cut in the supply of COEs, caused by fewer vehicles being taken off the road and an adjustment to offset a glut in the supply of certificates in recent years.
The high COE prices had hit industry players hard. Cycle & Carriage reported that sales of its South Korean brand, Kia, plunged by 80 per cent.
But many dealers are now expecting an influx of demand, which has been building up over the last few weeks. To take full advantage of this, dealers are offering significant discounts.
Parallel importer Cars & Stars has slashed $5,000 off the retail price of all its cars, including Toyota and BMW models, said marketing manager Kelvin Tan.
He said his company had received 20 to 30 per cent more calls from potential buyers since the latest tender results were released on Wednesday.
Another company, Think One Motor Trading, has shaved off between $500 and $2,000 from the prices of its Category A cars, that is, vehicles with engine sizes up to 1,600cc. Discounts are a bit higher for Category B cars - those with engine sizes above 1,600cc - said managing director Neo Tiam Ting.
He said his firm had received over 10 per cent more calls on its hotline, compared to before Wednesday.
Both dealers are expecting more calls and bigger crowds at their showrooms this weekend.
Mr Victor Tan, general manager and director of Suzuki distributor Champion Motors, said Suzuki has slashed all Category A car prices by about $6,000, and those in Category B by up to $7,600.
Two weeks ago, the company also extended its three-year warranty to five years, and free servicing from one to five years.
Mr Tan is also expecting more visitors at his showrooms this weekend.
Starting yesterday, Borneo Motors, the local distributor of Toyota and Lexus, is selling its Category A and B Toyota models at $6,000 less, and its upmarket Lexus cars at $5,000 less, said its marketing director, Mr Klaus Redomske.
Two other dealers that my paper spoke to have no intention of revising their prices. One of them, Harvest Automobiles, believes that the COE prices "will still fluctuate".
Potential buyers are happy with the price cuts.
Before the latest tender, tax consultant Scott Chen, 26, was thinking of giving up car ownership after selling his current car.
He would "definitely consider getting a brandnew car now, because it is a lot cheaper".
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my paper </TD></TR><TR><TD height=15>
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By Pamela Chow
CAR dealers have reacted quickly to the dip in prices of Certificates of Entitlement (COE) by slashing their prices - some by as much as $7,600 per car.
<TABLE border=0 cellSpacing=2 cellPadding=2 width=300 align=right><TBODY><TR><TD><SCRIPT language=JavaScript src="/static/ads/scripts/adsimu.js"></SCRIPT><SCRIPT type=text/javascript src="http://adtag.asiaone.com/tag/a1motoring/js/asiaone_motoring_imu.js"></SCRIPT><SCRIPT type=text/javascript src="http://ad.doubleclick.net/adj/AsiaOneMotoring/;pos=1;adtype=1;adtype=2;adtype=3;adtype=4;adtype=5;tile=5;sz=300x250;ord=7070222886053559?"></SCRIPT><!-- Copyright DoubleClick Inc., All rights reserved. --><!-- This code was autogenerated @ Mon Apr 05 22:45:54 EDT 2010 --><SCRIPT src="http://s0.2mdn.net/879366/flashwrite_1_2.js"></SCRIPT><OBJECT id=FLASH_AD classid=clsid
27CDB6E-AE6D-11cf-96B8-444553540000 width=300 height=250><EMBED src="http://s0.2mdn.net/2392433/pca09_2010Apr06_300x250.swf?clickTAG=http%3A//ad.doubleclick.net/click%253Bh%253Dv8/3985/3/0/%252a/n%253B223861803%253B0-0%253B1%253B39581297%253B4307-300/250%253B36249353/36267231/1%253B%253B%257Esscs%253D%253fhttp%3A//www.asiaone.com/specials/pca2009/" quality=high wmode=opaque swLiveConnect=TRUE WIDTH="300" HEIGHT="250" bgcolor=# TYPE="application/x-shockwave-flash" AllowScriptAccess="never"></EMBED></OBJECT><NOSCRIPT></NOSCRIPT></TD></TR></TBODY></TABLE>They hope to draw in more sales by doing so, they told my paper yesterday.</P>Prices in the latest COE tender - results of which were released on Wednesday - fell across the board for all cars, due to low demand over previous weeks.
COE prices shot up in the April 7 tender, with prices in some categories reaching a 10-year high.
Consumers had rushed to beat an anticipated cut in the supply of COEs, caused by fewer vehicles being taken off the road and an adjustment to offset a glut in the supply of certificates in recent years.
The high COE prices had hit industry players hard. Cycle & Carriage reported that sales of its South Korean brand, Kia, plunged by 80 per cent.
But many dealers are now expecting an influx of demand, which has been building up over the last few weeks. To take full advantage of this, dealers are offering significant discounts.
Parallel importer Cars & Stars has slashed $5,000 off the retail price of all its cars, including Toyota and BMW models, said marketing manager Kelvin Tan.
He said his company had received 20 to 30 per cent more calls from potential buyers since the latest tender results were released on Wednesday.
Another company, Think One Motor Trading, has shaved off between $500 and $2,000 from the prices of its Category A cars, that is, vehicles with engine sizes up to 1,600cc. Discounts are a bit higher for Category B cars - those with engine sizes above 1,600cc - said managing director Neo Tiam Ting.
He said his firm had received over 10 per cent more calls on its hotline, compared to before Wednesday.
Both dealers are expecting more calls and bigger crowds at their showrooms this weekend.
Mr Victor Tan, general manager and director of Suzuki distributor Champion Motors, said Suzuki has slashed all Category A car prices by about $6,000, and those in Category B by up to $7,600.
Two weeks ago, the company also extended its three-year warranty to five years, and free servicing from one to five years.
Mr Tan is also expecting more visitors at his showrooms this weekend.
Starting yesterday, Borneo Motors, the local distributor of Toyota and Lexus, is selling its Category A and B Toyota models at $6,000 less, and its upmarket Lexus cars at $5,000 less, said its marketing director, Mr Klaus Redomske.
Two other dealers that my paper spoke to have no intention of revising their prices. One of them, Harvest Automobiles, believes that the COE prices "will still fluctuate".
Potential buyers are happy with the price cuts.
Before the latest tender, tax consultant Scott Chen, 26, was thinking of giving up car ownership after selling his current car.
He would "definitely consider getting a brandnew car now, because it is a lot cheaper".
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