Mr Ng Khee Siong, managing director of Inchcape Singapore, is looking to sell more cars to private individuals than fleet owners in the coming years.
This is while parallel importers have a significant chunk of the Toyota pie, accounting for 46.8 per cent of total Toyota car registrations in 2023. This was higher than the 21.2 per cent market share that parallel imports have of the overall car market. During an interview held at the Toyota showroom in Leng Kee Road in late March, Mr Ng said that as the expected increase in COE supply leads to the premiums falling, private buyers will be keen to buy cars again.
Mr Ng considers parallel-imported Toyota cars as an opportunity for his business, because the owners would already be “fans of the brand”. On top of demonstrating Borneo Motors’ confidence in the quality and longevity of Toyota cars, the lengthy warranty is another way for the company to stay in touch with its customers.
The cost of a standard maintenance service at Borneo Motors is said to be around 6 per cent more than a comparable workshop.
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