Car Traders Also Appeals to PM Lee to Allow Them to Reopen During Phase One

Previously, a new committee was formed to represent thousands of SME to fight against unreasonable large landlords.

And now, motor traders have banded together to send an appeal to the government, including PM Lee.

On 22 May, the 378-member Singapore Vehicle Traders Association sent a letter to Prime Minister Lee Hsien Loong, DPM Heng Swee Keat, Transport Minister Khaw Boon Wan and more.

Their request?

Please let us reopen during Phase One.

Let Us Recoup Our Losses

Since January, the entire industry has incurred millions of dollars in losses.

Motor dealers also have a significant amount of money “tied up” in Certificate of Entitlement (COE) bids after customers cancelled their orders “because of economic hardships”.

Car viewings can be made safer, by implementing the SafeEntry system, a thorough wipedown of the car after every test drive and only accepting appointments.

“We believe that the risk involved is no greater than being a passenger in a taxi or private-hire vehicle, which continues to operate.

“Nor is it greater than the risk in a supermarket environment, with a considerably larger number of people congregated in a location.”

They are also asking for the authorities to clarify the COE situation where bidding has been suspended for two months.

They ask for traders to be allowed to cancel their COE bids and have their money refunded so that they can use it to tide over this rough period.

For drivers who want to get rid of their vehicles in order to “lighten their financial load”, they ask that these drivers be allowed to drive their cars to the dealership.

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More Export-Processing Zones (EPZ)

EPZs are areas where “deregistered” cars are stored before being sold overseas.

The three EPZs in Singapore are full right now, the association claims.

They hope that more EPZs can be temporarily designated, operated by Jurong Port and PSA.

The association highlighted that the industry is an important component of the Singapore economy, with transactions worth $6.3 billion in luxury cars.

That, they said, is comparable to the local airline industry of $6.4 billion; and if you take economy cars into consideration, the amount will be much higher.

The Fortitude Budget

On 25 May, DPM Heng Swee Keat took to Facebook to share a sneak peek at the next budget statement that’ll be coming out today.

He has named the next budget Fortitude Budget.

Lest you’re not aware, “fortitude” means “courage in pain or adversity”, and it has nothing to do with a certain popular game.

The name was chosen because we need to “have courage in adversity, to adapt and to emerge stronger, just like our founding generation.”

According to DPM Heng, jobs would be a key part, as the authorities aim to “turn anxiety into action”.

They will be “creating new jobs for those who are seeking employment” and “traineeships and other opportunities for those completing their post-secondary education this year.”

Additional support will also be available for the social sector agencies.

He will be speaking in parliament at 3.30pm today, and you can tune in to TV or radio for the live coverage of his statement.

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