Car dealers hit as customers stopped buying

Statistics show sales of motor vehicles dropped 29 percent in February 2010 compared to the same period in 2009.

The brighter picture is most retail segments reported higher sales year on year. According to the Singapore Department of Statistics, retail sales of food & beverages and wearing apparel & footwear, department stores and supermarkets rose by between 25.7 percent and 72.2 percent in February 2010.

Meanwhile medical goods & toiletries, watches & jewellery, petrol service stations, provision & sundry shops and furniture & household equipment reported year-on-year increase of between 10.1 percent and 20.5 percent.

On a monthly basis and after seasonal adjustment, sales of motor vehicles fell 15.4 percent in February 2010 over January of this year.