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Hong Seh Motors had been the authorised distributor for Maseratis in Singapore for 18 years before announcing that they were leaving the business because of "diminishing returns for high-end automobile segment".
A letter written by the company's managing director, Alfred Tan was recently posted by Facebook user Kien Lin and has taken netizens off guard with his honesty.
He wrote about how the registration tax for cars had increased from 100% to 180% for cars costing more than $30,000 in addition to the rise in COE prices from $20,340 to $91,000 in just four years from 2010 to 2013.
All this translates to an additional cost of $150,000 for a Maserati which already costs $96,000.
He also talked about how expensive the showroom is and how Maserati wanted an "impressive showroom" in the Leng Kee/Alexandra area that costs $56,000 per month.
Add to that the renovation costs and branding which cost the company a million dollars.
As such, they are holding a "grand sale" to clear out their stocks including models like the 2014 Ghibli S which is going for $368,000 and comes with a three-year warranty.
Apart from the letter's honesty, the letter has also brought a new spark to the age-old debate on how expensive it is living in Singapore.