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SINGAPORE: Car dealers have been revving up their promotions this holiday season.
According to them, their discounts and other promotions have been bringing in more customers. Discounts on new cars range between S$2,000 and S$9,000.
One car dealer said giving away S$2,000 discounts has helped boost sales in his showroom by 20 per cent this season. Other car dealers have slashed as much as S$6,000 for certain models, while some others are luring customers with lucky draws.
Some dealers said that some car buyers are waiting for the Lunar New Year to be over before they make their purchase. However, some dealers said this may not exactly be a good idea.
Alvin Lim, sales consultant, Komoco Motors, said: "Usually after the festive season, the prices may go down. But in this case, it may crash with the April COE reduction period, whereby, the COE is expected to go up very high.
"So, let us say, if everybody is waiting for the same time to come in after Chinese New Year, I believe by then, it could push up the COE price as well. So I don't see you have got any benefits."
Meanwhile, some dealers expect the COE price for Category A or small cars to go beyond S$20,000 moving forward.
- CNA/sc
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