Car Rental Companies in Singapore Delaying Fleet Renewals
In order to maintain current price levels, car rental companies are forced to delay replacing their old fleet by two to three years.
According to Channel News Asia, car rental companies are prolonging their fleet renewals by two to three years to set off the rising cost of Certificate of Entitlement (COE) prices.
Car rental fees have steadily increased at a rate of up to 50% this past year because of the cost of COE for cars in Singapore, the article states. Companies are trying to manage these fees by rolling them out in increments to customers, said Popular Rent A Car General Manager Ho Kok Kee.
The full article from Channel News Asia can be viewed by clicking the URL:
http://www.channelnewsasia.com/stories/singaporelocalnews/view/1208421/1/.html
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