S'pore car sales and prices up after policy change

Newswire

SINGAPORE, Jan 28 (Reuters) - Automobile sales have surged in Singapore after the central bank relaxed rules on car loans last week, but auto distributors and market analysts said on Tuesday the buying could fade fast as prices leap. The Monetary Authority of Singapore (MAS) last Wednesday dropped a policy of requiring financial institutions to finance a maximum of 70 percent of the purchase price of a car and for loans to be repaid over a period of no more than seven years. The effect ...

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