Some luxury car dealers are gearing up to lure buyers to their showrooms, beginning this weekend, in a bid to clear stocks of vehicles that will be reclassified as premium models from next February.
The move follows changes in the certificate of entitlement (COE) system, announced on Monday, in which a car's engine power will be included as a new criterion. Cars with over 130bhp or an engine exceeding 1,600cc will fall into Category B.
Dealers planning to go on a sales drive include Volvo agent Wearnes Automotive, which is looking to sell models like the S60 and S80. These currently belong to Category A - which caps engine displacement at 1,600cc - but will be re-classified under Category B next year.
Mr Victor Kwan, managing director at Wearnes Automotive, said the dealership will start clearing its 1.6-litre engine cars with "aggressive pricing".
SOURCE
Are you heading for the Volvo showroom this weekend? The S60 and S80 both sport a 1.6L engine but have a humongous 180bhp under the hood. In any case, with aggressive pricing comes the demand. Expect the Cat A COE to spiral upwards.
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