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Do motorist gain from economic downturn?

By SYF77 on 16 Aug 2011

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On 5 Aug 11, S&P downgrades the US credit rating from AAA to AA+. The following day, world stocks plummeted due to concern over the US economic health. The fear of a recession was in everybody’s mind. Crude oil price has retracted as well and we as motorist, has something to rejoice about.

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Referring to the above extract from petrolwatch.com.sg, pump prices has dropped by 4 cents since 8 Aug 11. Although some may argue that the prices should have dropped by a larger margin, at least there is some savings. Motorists are not the only bunch who gains from lower crude oil prices. If you are a frequent traveler by air, do expect lower fuel surcharge as well.

Apart from cheaper petrol price, aspiring car owners who are deterred by the recent high COE prices can finally look forward to fulfilling their dreams. Poor economic sentiments usually translate to lower demand for consumer goods. In the first round of Aug 11 bidding results, COE has fallen across the board with CAT A showing the biggest decrease of $7,201. If your job is relatively safe from the effect of recession or you have a large cash reserve, it is a good time to do bargain hunting in the car market.

Economic downturn is not all that gloomy. Good buying opportunities in the car market (or even stock market to some) will arise. I would like to take this opportunity to wish all “Mycarforumers” a smooth ride during this period of economic uncertainty.

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SYF77
Written by SYF77
I have been a car fanatic since 1989, when my father was changing our family car then to a Toyota Corolla 1.6 GL fitted with a Twin Cam 16 valve engine that was carburetor-fed, a big deal back in those days. The automobile technology and industry fascinates me and I hope to broadcast these interesting developments to everyone out there through this blog.



 
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