Luxury car tax trickle-down effect led to record-high COE prices across the board, say industry players

INCREASE IN SALES OF CAT A CARS

Car dealers said they have seen enquiries and sales of Category A vehicles increase since the new tax.

One such parallel importer Cars & Stars said that while recent buyers were less interested in higher-end cars, its sales of Category A vehicles have jumped by up to 30 per cent.

“Since the last round of tax adjustment, we noticed a significant dip in enquiry volume on luxury vehicles that were directly impacted by this tax exercise,” said…