2013-02-01 01:57:19 - New Transportation research report from Business Monitor International is now available from Fast Market Research
We believe the latest strength in COE prices showcases the strong demand for vehicles, a trend which we expect to continue. With the number of motor vehicle registrations crossing the one million mark earlier this year, Singapore's fleet size has grown about 30% since 2005. However, neither the high prices of COEs nor the greater congestion on roads has deterred consumers from wanting to purchase a car.
While the Land Transport Authority (LTA) has used various measures to encourage citizens to use public transport instead of purchasing cars, it has not been successful in reducing demand for cars. BMI believes Singaporeans view cars as an aspirational item. Although the city boasts an excellent public transport infrastructure, Singaporeans prefer to own cars
due to the convenience and status they provide.
November 2012 prices for Certificates of Entitlement (COE) saw yet another surge in the latest bidding exercise. However, this time small cars (below 1600cc) COEs saw the biggest hike of 8.7% month-onmonth (m-o-m), ending at SGD77,201. Premiums for big cars (above 1600cc) on the other hand jumped by about 7.7% m-o-m, from SGD 85,801 in October to SGD 92,400 in the current bidding. This was rather unusual as during the previous months in the year, the percentage increases in premium car COE prices mostly outperformed those for small cars.
Full Report Details at
We do not find it surprising that the largest COE price increase came from the small car segment in the latest bidding. With prices of COEs constantly rising, many consumers have been holding off on their new vehicle purchases and waiting for a correction which would create pent-up demand. However, there has been no respite in prices over the last few years and, eventually, consumers will throw in the towel and purchase a new car.
Report Table of Contents:
BMI Industry View
- Executive Summary
- Auto Industry SWOT
- Business Environment
Global Industry Overview
- Global Industry Overview
- Table: Passenger Car Sales 8M12
- Incentive Boom For Japan, US Powers On
- UK Leads As Germany Falters
- Russia And Brazil Go From Strength To Strength
- Regional Overview
Industry Risk Reward Ratings
- Industry Risk Reward Ratings
- Table: Business Environment Ratings -- Auto Industry Asia Pacific
- Industry Forecast
- Table: Singapore Automotive Sector Registered Vehicles: Historical Data And Forecasts (CBUs)
- Industry Developments
- Company Monitor
- Demographic Forecast
- Table: Singapore's Population By Age Group, 1990-2020 ('000)
- Table: Singapore's Population By Age Group, 1990-2020 (% of total)
- Table: Singapore's Key Population Ratios, 1990-2020
- Table: Singapore's Rural And Urban Population, 1990-2020
- How We Generate Our Industry Forecasts
- Automobile Industry
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