Available: http://www.channelnewsasia.com/stories/singaporebusinessnews/view/340367/1/.html
Quota cuts, new car models drive COE prices higher
By Margaret Perry, Channel NewsAsia | Posted: 09 April 2008 1951 hrs
SINGAPORE : The latest COE bidding results showed that COE prices have risen across all categories of vehicles.
Industry players said cuts in the COE quota have driven up prices.
The highest percentage increase was in the Motorcycle Category, which rose by more than 12 percent or S$111 to S$1,012.
Small cars in Category A went up 10 percent or S$1,541 to S$16,930. Analysts said this is probably due to recent launches of new models.
COEs for Goods Vehicles and Buses went up just over 7 percent or S$1,290 to S$18,900.
Big cars and the Open Category saw the smallest increases of nearly 3 percent. COEs for big cars went up S$500 to S$19,501, while Open Category COEs rose S$535 to S$19,389. - CNA /ls
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Not much but this article basically describes one of the reasons for rising car prices in Singapore, so we can use this as a reason in the event of a test with a question on the car industry in Singapore. Article talks about the decrease in supply through cuts in the COE quota. As supply drops, the equilibrium price for cars in Singapore is forced upward. If I'm not wrong, this is a result of government intervention (?)
- jontan
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