Singapore’s pump prices hurt budget car sales

Updated Saturday, June 28, 2008 0:00 am TWN, dpa

Singapore’s pump prices hurt budget car sales

SINGAPORE -- Record petrol prices have hit budget car sales the hardest, with monthly pump prices beginning to match loan installment payments for some models, published trade figures said Friday. Sharp drops in sales of 50 percent or more hit Chevrolet, Hyundai, Kia and Ford, The Straits Times said. Chinese brands are also reeling. Models priced below S$60,000 (US$44,776) were the worst hit.

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