SINGAPORE - When videographer Lim Weiming found out about the drop in the certificates of entitlement (COE) for motorcycle, he wasted no time walking into a dealership in Kembangan to buy a second-hand Yamaha two-wheeler. When he saw a motorcycle he liked, he put pen to...
When the curbs on motorcycle COEs were rolled out, motorcycle dealerships braced themselves for a hit to their bottom line.Mr Iain Stewart, founder of Mutt Motorcycles in Joo Chiat, said he sold about 17 motorcycles on the same day the new COE rules made the news. Sales usually hover at about two motorcycles on a normal day, he added.
Mr Stewart added that his customers have not complained about the higher COE bid deposit either because it has no impact on them as the majority of buyers take loans. Mr Rai, 24, said: “I am also concerned about my motorcycle losing its value because the dealerships will quote the trade-in value as scrap value, especially if there are people like me whose COE is going to take a while to expire.”The owner of a motorcycle dealership located in the Western part of Singapore who declined to be named had similar concerns.
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