As COE prices are expected to further fall over the next couple of years, many are purchasing eight to nine year old cars to tide them over until the prices actually fall. In 2014, a standard close to end of life car had an annual depreciation of less than $10,000, which is the price of the car, deducted from the scrap rebate divided by the number of years before the COE expires. With demand being driven up, the purchase prices have gone up with it, and thus, depreciation can now reach upwards of $14,000 yearly.
However, buyers waiting for the drop in COE prices aren’t the only ones driving up demand of said cars; firms such as Uber are also acquiring older machinery to rent out to their drivers. Loan curbs have also driven motorists to purchase older vehicles.
Scania CV AB has appointed the experienced Marie Sjödin Enström as the new Managing Director of Scania Southeast Asia, with effect from July 1st this year. She will be in charge of leading a highly dedicated team that covers Scania’s captive markets of Singapore and Malaysia as well as the non-captive export markets of Myanmar, Philippines, Brunei, Vietnam, Cambodia and Laos.
A Swede, Ms. Enström began her career with Scania in 1984. Her last position was as Managing Director of Scania Assistance at Scania CV AB, Sweden, where she was the global head and was responsible for eight centers in Europe and Latin America.
Just four days after exploring Rome and the stunning areas around the city in their Ferraris, the 2015 Cavalcade participants celebrated the conclusion of the event with a gala dinner in the surroundings of Trajan’s Markets.
The 200 guests not only enjoyed unforgettable views of the Imperial Fora and the National Monument of Victor Emmanuel II but also demonstrated the generosity for which Ferrari clients are renowned in the course of a charity auction.
Lamborghini has announced a roadster version of its Aventador LP 750-4 Superveloce. The roadster will be limited to 500 units. The coupe version was on display during this year’s Goodwood Festival of Speed.
Speaking at Goodwood, Stephan Winkelmann, Lamborghini President & CEO, confirmed production of the Superveloce Roadster. “The Aventador LP 750-4 Superveloce is the most pure, sports-oriented and emotional incarnation of a Lamborghini, and all 600 units have been sold, with first deliveries starting now. We will also produce a roadster version, which our dealers worldwide are now taking orders for.”
The new MINI Clubman is an innovative vehicle concept for the premium compact segment with unique combination of functionality, everyday practicality and long-distance suitability offering driving fun, premium charisma and individuality in style.
MINI Clubman with clearly matured character as compared to its predecessor in terms of versatility, space and product substance; exterior and interior dimensions significantly more generous, also in comparison to the new MINI 5 door: length + 27 cm, width + 9 cm, wheelbase + 10 cm; five fully-fledged seats; luggage compartment volume: 360 litres, rear backrest with 40: 20: 40 folding split, maximum storage volume: 1 250 litres.
There may be 6 taxi companies locally, but only 1/6th of the firms have met availability standards set by the LTA. The other 5, which were while CityCab, TransCab, Premier , SMRT and Prime, had laspes and/or failed to meet the standards.
Out of those who failed to meet said standards, SMRT has been fined around $45,000 for not meeting standards from the January to April review period, whereas Prime had to cough up $44,000 for not meeting the same standards in the first 3 months.
Also, not only do the operators have to ensure each taxi reaches a minimum daily mileage, they also have to ensure that a significant portion of their fleet has to be in active operation during peak hours; from 7:00am to 11:00am and 5:00pm to 11:00pm, at least 85 percent of their cabs have to be on the road.
A new slip road along the Pan-Island Expressway (PIE) near Clementi North Flyover has been completed, and the motorists will be able to utilise it from the 5th of July from 3.00 am onwards. The new road means that motorists heading towards Bukit Batok East Avenue 3/Toh Tuck Avenue from PIE (Tuas) should take Exit 27 to get to their destinations. Exit 28, which is situated along PIE (Tuas) to Bukit Batok East Avenue 3/Toh Tuck Avenue, will be closed.
Other temporary slip roads, which include the entry from Clementi Avenue 6 to PIE (Tuas) will be closed for good. As such, motorists travelling towards to PIE (Tuas) from Clementi Avenue 6 will have to access the expressway throught can enter to PIE (Tuas) via the Toh Tuck Ave junction.
Directional signs will be on display to guide the motorists.
Two top Volkswagen concept cars from Germany will be among the major attractions at this year’s GTI International, one of the most successful annual events for enthusiasts of the Golf GTI and other related high-performance Volkswagen Group models. GTI International will this year again be staged at the Shakespeare County Raceway, UK from 4-5 July.
Star attractions this year will be the 190 mph Golf R 400, with 400 PS and 450 Nm of torque – plus the looks to match its huge performance – as well as the XL Sport two-seater sports car, which is powered by a 200 PS Ducati Superleggera V2 engine and has a top speed of 168 mph.