Car dealers anticipate that the planned introduction of up to 20,000 additional Certificates of Entitlement (COEs) could temporarily impact their sales, as prospective buyers may adopt a wait-and-see approach.
Dealers report that many customers are holding off on purchases, expecting car prices to decrease once the additional COEs are distributed across all vehicle categories. This phased rollout is set to begin in February 2025 and continue over the next few years.
While the increased COE supply is intended to ease prices in the long term, dealers are preparing for a potential slowdown in demand as customers anticipate market changes.
Dealers have expressed concerns that this shift in consumer behavior could lead to a drop in monthly sales volumes, impacting revenue during the transition period. Some have noted that promotional efforts may need to be adjusted to keep buyers engaged, while others are considering tailored financing or trade-in offers to mitigate the slowdown. The additional COEs are expected to gradually influence prices, but until the effects are clear, both dealers and consumers are likely to navigate a period of uncertainty.
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