It has been a bumpy 2010 in the motoring industry. The major one has to be the rocket powered COE blasting through the Ozone price ceiling. Days were gone with the cheap new cars. This revive the used car market, making ubi carmart & bukit timah turf city and hangout again all car seekers.
In the motor insurance industry, this year we hear lesser complains from the insurance companies that they were losing money. Though there is no significant decrease in our premium, most car owners are not making too much noise about it. Partly because this year is a flamboyant year compared to 2009. Theoretically there is should be adjustment to lower our premium however still no news. I doubt there will be. Still we urge all owners to seek around for cheaper insurance renewal every year.
Feeling the sentiment of our overall market, I think the COE price will still be high up there, hovering around 50k. So buckle up for a high price year ahead.
One other solution, fix up the wear & tear of your existing car, maintain it properly and continue using it to ride out the high season.
HAPPY NEW YEAR!!
From the management of Complete VMS Pte Ltd