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#SGBudget2022: Higher ARF may not put the brakes on luxury car sales
A senior manager for Wearnes Automotive's luxury division, which retails cars from Aston Martin, Bentley and other exotic car brands, said he did not expect sales to be hit. "Looking at our average OMVs, the impact is only about S$50,000. In the bigger scheme of things, it's not that big," he told BT.
The higher ARF was announced alongside higher property taxes also aimed at redistributing wealth. Asked if these could curtail spending on high end cars, the manager was sanguine. "It's possible," he said. "But I think there's still enough wealth going around."
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