[OMY] Fast-car ownership revs up in last decade
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http://news.omy.sg/News/Local-News/Fastcar-ownership-revs-up-in-last-decade-201779#prettyPhoto
SAMANTHA BOH
THE ownership of fast cars here has shot up over the past 10 years, with numbers surging higher than ever before in Singapore's history.
But, while supercar numbers have risen in tandem with the country's total car population, recent industry-cooling measures appear to be putting the brakes on their sales.
Last year, Singapore's car population hit 620,011, a 53 per cent increase from a decade ago.
Meanwhile, the Land Transport Authority (LTA) had on its records 4,815 Porsches, Ferraris, Maseratis, Lamborghinis and Aston Martins last year. This is up from 4,151 in 2011 and just 777 in 2002.
There were also new supercar brands to the Singapore market, such as McLaren, which made its entrance here in late 2011 with 33 cars registered in its first year.
A McLaren 12C Spider sells for about $1.2 million and a Lamborghini Aventador LP700-4 for about $1.6 million, without certificates of entitlement.
Car dealers My Paper spoke to pointed to a new trend among their clientele: young and wealthy female drivers.
EuroSports Auto, which imports supercars like Lamborghini and Pagani, said: "As Singaporeans become affluent, more will want to invest in global premium brands that indicate their success, and support their desire to distinguish themselves."
But cooling measures introduced in March have slowed down supercar sales, said car dealers.
The Monetary Authority of Singapore had then capped loans for new and used cars with an Open Market Value (OMV) of up to $20,000 at 60 per cent of their purchase price.
Those with higher OMVs could qualify for loans of no more than 50 per cent of the purchase price. The maximum tenure for a car loan was also limited to five years, from 10 years previously.
This was followed by raises in car-loan interest rates to 2.68 per cent per annum from 1.88 per cent by banks.
For example, in June and July, just two Lamborghinis were registered with the LTA, a decline from the five in May and four in April.
EuroSports Auto told My Paper that it is likely that customers will now "think twice" before making a commitment to buy a supercar.
Similar declines were also seen in the sale of Ferraris and Porsches.
Not a single Ferrari was registered in July, a fall from the 25 registered in May and three in June, while the number of Porsches registered fell from 33 in June to 26 in July.
Ferrari's distributor, Ital Auto, said: "The measures have already had a dampening effect on car sales in general, but we will probably need a few more months to see how persistent this effect will be."
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To the rich, smlj is 50% downpayment....
That day just follow my boss go see car....
That saleman "eye bo stick stamp" asking my boss silly question....
"so sir, which finance company you are looking at?"....
My boss straight throw down the brochure, walk straight out....
Than later his phone rang, that car company GM call him up....
Straight away got free meal to jiak at MBS lo....
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Premium cars make up 70% of new car sales
BEST-SELLING SMALL-CAR BRANDS IN FIRST 7 MONTHS: Volkswagen - 1,500 cars. -- PHOTO: VOLKSWAGEN
Luxury and premium brands have crowded out mass-market makes in the small-car segment.
And imminent changes to the certificate of entitlement (COE) system that seek to give mass-market cars a more equal footing may take time to reverse the trend, if at all.
According to trade figures obtained by The Straits Times, brands like Mercedes-Benz, BMW and Volvo accounted for 70 per cent of new car sales in the up-to-1,600cc segment in the first seven months of the year.
This was up from less than 50 per cent in the same period last year, and less than 1 per cent five years ago.
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The plot is very clear now....
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Originally posted by Keepthechange666:
To the rich, smlj is 50% downpayment....
That day just follow my boss go see car....
That saleman "eye bo stick stamp" asking my boss silly question....
"so sir, which finance company you are looking at?"....
My boss straight throw down the brochure, walk straight out....
Than later his phone rang, that car company GM call him up....
Straight away got free meal to jiak at MBS lo....
That day i parked my taxi at Tan Chong motor bukit timah, go see see look look at new car, chio bu sale gal somemore invite me to buffet, wha!, later we exchange name cards, she said, can consider, if interested she can give me a good price, I thanks her and walk away.Then she called, hello, Mister! your name card said you are working for casket company, I replied from far, yes yes! if COE keep going up, some buyers can get heart attack, you can call me.
Slowly I walk to my crown and drove off to bukit timah Esso toilet and pang sai.
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Originally posted by bowah:
That day i parked my taxi at Tan Chong motor bukit timah, go see see look look at new car, chio bu sale gal somemore invite me to buffet, wha!, later we exchange name cards, she said, can consider, if interested she can give me a good price, I thanks her and walk away.Then she called, hello, Mister! your name card said you are working for casket company, I replied from far, yes yes! if COE keep going up, some buyers can get heart attack, you can call me.
Slowly I walk to my crown and drove off to bukit timah Esso toilet and pang sai.
Tan Chong? smlj? Latio?....
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Nissan Note
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Originally posted by bowah:
Nissan Note
now japanese also want to take.......note (after samsung note)
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Note as in hybrid
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Originally posted by bowah:
Note as in hybrid
Saya baru tahu USA Notes
