reporter2
27-11-13, 13:39
http://www.businesstimes.com.sg/premium/top-stories/strong-interest-new-mercedes-benz-s-class-20131127
Published November 27, 2013
Strong interest in new Mercedes-Benz S-Class
Nearly 400 orders for flagship luxury limousine
By samuel ee [email protected]
http://i.imgur.com/2hBEbky.jpg
Half-a-million price tag: S-Class buyers include owners of small and medium-sized enterprises, and CEOs and top management of MNCs and other corporations
[SINGAPORE] What is half a million dollars in the Singapore context? Apparently it's not that big a deal if you happen to be one of the hundreds of people who have booked the new Mercedes-Benz S-Class.
Daimler South-east Asia, the distributor of Mercedes-Benz, would not confirm the number, but BT understands that close to 400 orders have been taken for the latest version of its flagship luxury limousine.
To be launched to 1,000 guests here tomorrow, the three available variants for now - the S350 CDI, S400 Hybrid, S500 - are priced between $450,000 and $600,000 (including COE) approximately.
Interestingly, a surprisingly sizeable number of the higher-end S500 model with a V8 engine has been snapped up - one-quarter of all bookings compared to less than 10 per cent previously.
"This group of customers has seen their wealth grow exponentially because of asset inflation, so $500,000 is not considered a major expense," said one observer. "But not only Singaporeans have benefited; it's a worldwide phenomenon."
But in Singapore the price of an S-Class can be almost treble because of the progressive registration tax structure introduced in February this year. And along with the vehicle financing restrictions implemented at the same time, buyers have to stump up about $250,000 in cash because of the 50 per cent cash downpayment required for cars with an open market value of more than $20,000.
This is unlikely to be a problem for S-Class buyers, however, who traditionally include owners of small and medium-sized enterprises, and CEOs and the top management of MNCs and other corporations.
"For some of them, the S-Class is a car that they must have because of its branding and status," said the observer. "Its reputation is such that it is the undisputed champ in this segment when it comes to comfort and luxury."
Part of its large clientele and loyal following can be attributed to the fact that the S-Class was one of the earliest full-sized luxury saloons to go on sale in Singapore. It gained popularity among the well-heeled as the Mercedes-Benz 280S in the 1960s, at a time when there was virtually no competition as a status symbol in its class.
In its run-out year this year, the S-Class notched up sales of only 88 units in the first nine months, compared with its traditional rival, the BMW 7 Series, of which 209 units were registered in the same period, while the corresponding figure for the Audi A8 was 38 units.
Last year, about 350 units of the S-Class were sold, and at its peak, this outgoing model racked up sales of 850 units in 2007, one year after its launch.
In general, launches of popular makes and models in Singapore tend to elicit a good response despite the prohibitive taxes and high COE premiums.
It is said that the Lexus ES mid-sized luxury sedan, for example, managed to net more than 100 bookings nearly two months ago at its introduction, while the facelifted Mercedes-Benz E-Class found favour with slightly more buyers when it was introduced in March.
Published November 27, 2013
Strong interest in new Mercedes-Benz S-Class
Nearly 400 orders for flagship luxury limousine
By samuel ee [email protected]
http://i.imgur.com/2hBEbky.jpg
Half-a-million price tag: S-Class buyers include owners of small and medium-sized enterprises, and CEOs and top management of MNCs and other corporations
[SINGAPORE] What is half a million dollars in the Singapore context? Apparently it's not that big a deal if you happen to be one of the hundreds of people who have booked the new Mercedes-Benz S-Class.
Daimler South-east Asia, the distributor of Mercedes-Benz, would not confirm the number, but BT understands that close to 400 orders have been taken for the latest version of its flagship luxury limousine.
To be launched to 1,000 guests here tomorrow, the three available variants for now - the S350 CDI, S400 Hybrid, S500 - are priced between $450,000 and $600,000 (including COE) approximately.
Interestingly, a surprisingly sizeable number of the higher-end S500 model with a V8 engine has been snapped up - one-quarter of all bookings compared to less than 10 per cent previously.
"This group of customers has seen their wealth grow exponentially because of asset inflation, so $500,000 is not considered a major expense," said one observer. "But not only Singaporeans have benefited; it's a worldwide phenomenon."
But in Singapore the price of an S-Class can be almost treble because of the progressive registration tax structure introduced in February this year. And along with the vehicle financing restrictions implemented at the same time, buyers have to stump up about $250,000 in cash because of the 50 per cent cash downpayment required for cars with an open market value of more than $20,000.
This is unlikely to be a problem for S-Class buyers, however, who traditionally include owners of small and medium-sized enterprises, and CEOs and the top management of MNCs and other corporations.
"For some of them, the S-Class is a car that they must have because of its branding and status," said the observer. "Its reputation is such that it is the undisputed champ in this segment when it comes to comfort and luxury."
Part of its large clientele and loyal following can be attributed to the fact that the S-Class was one of the earliest full-sized luxury saloons to go on sale in Singapore. It gained popularity among the well-heeled as the Mercedes-Benz 280S in the 1960s, at a time when there was virtually no competition as a status symbol in its class.
In its run-out year this year, the S-Class notched up sales of only 88 units in the first nine months, compared with its traditional rival, the BMW 7 Series, of which 209 units were registered in the same period, while the corresponding figure for the Audi A8 was 38 units.
Last year, about 350 units of the S-Class were sold, and at its peak, this outgoing model racked up sales of 850 units in 2007, one year after its launch.
In general, launches of popular makes and models in Singapore tend to elicit a good response despite the prohibitive taxes and high COE premiums.
It is said that the Lexus ES mid-sized luxury sedan, for example, managed to net more than 100 bookings nearly two months ago at its introduction, while the facelifted Mercedes-Benz E-Class found favour with slightly more buyers when it was introduced in March.