S'pore car sales hit record high

S'pore car sales hit record high

SINGAPORE: Car sales in Singapore hit a record high in 2003
despite it being a year of war, disease and economic uncertainty
for the island republic.

A total of 81,259 cars were sold here last year, 21 percent
more than the previous record of 67,158 posted in 2001, according
to the latest figures from Singapore's Land Transport Authority.

Cars are one of the most expensive items in the city-state due
to a government vehicle quota system aimed at reducing congestion
and pollution.

Before buying a car, Singaporeans must obtain a purchasing
permit, the price of which fluctuates monthly and currently costs
S$25,000 Singapore dollars (US$14,780).

At least six car brands sold here posted record sales: Toyota,
Hyundai, Honda, Mitsubishi, Mazda and Kia; and even luxury brands
such as Saab and Jaguar - priced at about S$150,000 ($88,670) and
S$300,000 ($177,310) respectively - saw their highest
performances, the transport authority said. -- AP