Compared to the prior 28 days avg
We've got indexes tracking everything. The Straits Times Index tracks the overall health of the stock market. For property prices, we have several indexes published by different private companies. But we don't have anything tracking the cost of Singapore Used Car Market! So here comes SCD Index. The first of its kind index tracking the cost of used cars in Singapore.
We are pleased to introduce SCD Index as a tool for everyone to get a sense of the relative cost of buying a used car over time. The SCD Index (shown above as 11,446) is a running 28 daily average. We excluded lifestyle cars and only included mass market cars that have significant inventory on the market.
Simply put, this is currently an experiment. Everything thing about SCD Index still is. Its usefulness and popularity. The formula we use to derive the data. The basket of cars that we use. The way we present the data. Should the formula in future, the historical data may or may not change. So until we move out of Beta, SCD Index should only be used to get a sense of the relative cost of used cars in the market.
Historical monthly average for SCD Index. Data collection started in September 2014.