Shaky start for 2008
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Channel NewsAsia - Sunday, February 10
Auto industry expects bumpy, slow ride in 2008
SINGAPORE: Some automotive industry players said they ended 2007 on a high note but it has been a shaky start for 2008.
The government made it clear in its transport review that it wants to reduce the number of cars on the roads.
With fewer COE (Certificate of Entitlement) quotas in May, bidding prices are expected to climb.
And with more ERP (Electronic Road Pricing) gantries and higher rates, owning a car is likely to be more expensive.
Cheah Kim Teck, CEO of Group Motor Operations of Jardine Cycle and Carriage, said: "People are a lot more cautious in committing to big—ticket purchases. We slightly anticipated this will happen. There is a certain degree of ’wait—and—see’. Even the consumer at large is trying to anticipate what it really means to (him/her) in terms of dollars and cents."
"For a start there will be less weekend cars, the lower priced cars because those consumers I believe are marginal buyers, meaning they just cross the line to be able to own a car," he added.
Dealers said it has already been a slow start to 2008, and there is another factor road users and even the government have little control over — the cost of crude oil, which saw pump prices speeding towards S$2 per litre.
KAH Motor’s product manager Vincent Ng pointed out: "If oil prices continue to rise, especially now it’s hovering about US$100 per barrel... the rise in petrol (price) per litre will really affect (drivers’) expenditure each month and that should have a lot of effect on their disposable income."
According to Land Transport Authority figures, the number of hybrid cars crossed the 1,000—mark in 2007, and more manufacturers are cranking out hybrids and other alternate fuel powered cars.
Dr Rainer Thiel, President and CEO of DaimlerChrysler Southeast Asia, said: "We have biofuels options to offer, customers (can) have something besides using crude oil. A clear target for us is to introduce our hydrogen version, our fuel cell car in the market. We’ll have that as a serious car available in 2013, 2014, so that we can offer a real clean alternative to customers." — CNA/ac
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hai... just have to hope that bi-ethanol becomes a popular choice of petrol in future..
or rather hydrogen.. but hopefully hydrogen will be manufactured cheaply..
still rmb back in those days.. my dad's 520i 1 tank of petrol could cost $60.. or lesser.. so cheap.. now a 1.6l car can easily reach $80..
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I think bio-diesel/bio-ethanol is the way to go for now! Hydrogen still need a lot of energy to convert gaseous hydrogen into liquid hydrogen..so in the end is "tuo ku fang pi"..
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Originally posted by alleggerita:
I think bio-diesel/bio-ethanol is the way to go for now! Hydrogen still need a lot of energy to convert gaseous hydrogen into liquid hydrogen..so in the end is "tuo ku fang pi"..
i heard the formula of such fuels require crude oil too? but only 10% or 20% of the mixture? 80% will be crops. but to think of it, still need energy and time to grow these stuff.. wont be that cheap either.
bio-diesel shld be good.. can go to vegeterian restaurant ask them for their leftover oil.. :p
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fuel is killing us..... Car drink fuel, we drink plain water
