Singapore luxury car sales speed up in 2002

SINGAPORE, Jan 9, 2003; Reuters reported that Singapore's spluttering economy may have suffered its worst recession in over three decades last year but sales of luxury cars shifted to higher gear, motor distributors said on Thursday.

A spokesman of Malayan Motors which sells Jaguar and Rolls Royces vehicles said sales of Jaguar cars rose 27 percent to 345 last year compared with 2001, while two Rolls Royce were sold up from one in the previous year.

Six Lamborghinis were sold last year from just two the year before, KC Chong, manager for sales and customer service at Lamborghini Singapore said.

A Lamborghini has a price tag of about S$1.1 million ($633,000).

Singapore only pulled out of its worst recession since 1964 in the second quarter of last year but has seen the recovery momentum falter in the second half of 2002.