Little_prince Supersonic October 10, 2016 Share October 10, 2016 Dont understand why uber/grab keep buying so many new cars? Do they really needs so many cars? If they need to replace their old cars, but thought there should be a stop on buying cars, right? Cant be they will bid for every coe for forever lo?! they buy 1000 cars doesn't mean all 1000 in oct. probably spread over next 6 months or something.... ↡ Advertisement Link to post Share on other sites More sharing options...
13177 Supersonic October 10, 2016 Share October 10, 2016 they buy 1000 cars doesn't mean all 1000 in oct. probably spread over next 6 months or something.... But i find a bit exaggerated having to buy 1000 cars from one hire company only? Business really so good meh? Lol. Link to post Share on other sites More sharing options...
Little_prince Supersonic October 10, 2016 Share October 10, 2016 (edited) But i find a bit exaggerated having to buy 1000 cars from one hire company only? Business really so good meh? Lol. maybe that's why they end up like that lor http://www.vanityfair.com/news/2016/08/uber-reportedly-lost-12-billion-in-the-first-half-of-2016 and btw. the 1000 is just for mitsubshi Atttrage. doesn't includes the rest of the vezels etc that they bought. Edited October 10, 2016 by Little_prince Link to post Share on other sites More sharing options...
Jayy25 6th Gear October 10, 2016 Share October 10, 2016 COE mkt for private vehicles are weak too. current COE is pushed up by the private hire Grab and Uber. Read Oct issue of Torque. Chris Tan says Cat A shd be in $38-40K range now (lowest since 2011) if not for Uber and Grab. yeah man... you see the number of attrage, sentia and Velez under LCR (Lion city Rental) on the roads. you know a bubble is forming big and quick... so many no $$$ to pay upfront down payment yet willing to pay higher interest for a leasing scheme... anyhow.... nowadays singapore prosperity is sort of fake lah... alot of ppl due to face value die die must own car or condons and go into big debts beyond their repayment ability. 1 Link to post Share on other sites More sharing options...
clasher 4th Gear October 10, 2016 Share October 10, 2016 But i find a bit exaggerated having to buy 1000 cars from one hire company only? Business really so good meh? Lol.If they don't buy now, then wait until coe drought years? To sustain the business for the next 10 years, they have to buy now where the coe quota is at its peak. With more people getting retrenched, there could be more people turning to uber to earn a living. 2 Link to post Share on other sites More sharing options...
13177 Supersonic October 10, 2016 Share October 10, 2016 maybe that's why they end up like that lor http://www.vanityfair.com/news/2016/08/uber-reportedly-lost-12-billion-in-the-first-half-of-2016 and btw. the 1000 is just for mitsubshi Atttrage. doesn't includes the rest of the vezels etc that they bought. Lost 1.2 mill and yet still can buy so many new cars? Lol. Link to post Share on other sites More sharing options...
Little_prince Supersonic October 10, 2016 Share October 10, 2016 Lost 1.2 mill and yet still can buy so many new cars? Lol. billiion. not million and in first 6 mths nia. extrapolate for full year is they lose 2.4 Billion. sibei scary Link to post Share on other sites More sharing options...
13177 Supersonic October 10, 2016 Share October 10, 2016 billiion. not million and in first 6 mths nia. extrapolate for full year is they lose 2.4 Billion. sibei scary Paiseh saw wrongly, indeed is billion not million. Lol. Lost so much money and yet still can survive and expand their car fleet? Link to post Share on other sites More sharing options...
BlitzStryker 2nd Gear October 10, 2016 Share October 10, 2016 Uber and Grab is banking on their investors for their funding in an all in or all out manner.Both companies are racing against each other and with Tesla and Google to be the first to push out autonomous cars.The end game for Uber and Grab is for autonomous driving cars to replace those humans who are driving now. Giving incentives to drivers are their main overhead costing now. Once they replace human drivers with autonomous drivers, their company will start to pull in profits as there are minimal overheads now, there is no need to pay the driver. 100% of the cab fare will go to the company themselves.Buying cars are just their capital outlay at the start, once autonomous driving is ready, they will convert the car that are purchased now to become autonomous driving too. Therefore, they are not afraid of buying more cars to add into their fleet.The only "expendable assets" in their portfolio is just human drivers. Once autonomous driving is ready, there will be alot of 2nd cars on the roads as many who bought(not rent) on leasing scheme will not be able to afford their car. 1 Link to post Share on other sites More sharing options...
RH1667 Hypersonic October 10, 2016 Share October 10, 2016 maybe that's why they end up like that lor http://www.vanityfair.com/news/2016/08/uber-reportedly-lost-12-billion-in-the-first-half-of-2016 and btw. the 1000 is just for mitsubshi Atttrage. doesn't includes the rest of the vezels etc that they bought. Saw a Mazda 3 with LCR number plate over the weekend. 2 Link to post Share on other sites More sharing options...
Tkseah Supercharged October 10, 2016 Share October 10, 2016 maybe that's why they end up like that lor http://www.vanityfair.com/news/2016/08/uber-reportedly-lost-12-billion-in-the-first-half-of-2016 and btw. the 1000 is just for mitsubshi Atttrage. doesn't includes the rest of the vezels etc that they bought. 1000 attrage is ~$80mil liao.. not counting vezels, sienta and the rest.. LCR so rich ah.. Link to post Share on other sites More sharing options...
merc280v6 6th Gear October 10, 2016 Share October 10, 2016 But i find a bit exaggerated having to buy 1000 cars from one hire company only? Business really so good meh? Lol.This only confirms the pent up demand for new cars by the same people who are awaiting for COE prices to plunge, or for garmen to relax/remove the 30% d/p when buying a new car.Many (tens of thousands) have waited for the above to happen, but never did ... and they remain unaffordable as far as the 30% cash payment is concerned! Do when the PHCs came up with this brilliant idea in offering affordable long-term leases, thousands just jump at the chance! Link to post Share on other sites More sharing options...
inlinesix Supersonic October 10, 2016 Share October 10, 2016 Y motor image , tan chong , Infiniti or Volvo margins not so ridiculous as PML ? Some More give vomit blood after sales svc Link to post Share on other sites More sharing options...
Freeder Hypersonic October 10, 2016 Share October 10, 2016 The car is imported by BMW Asia. How much they sell it to PML? Nobody knows. Like than how can PML margin be ridiculous? Die Hard BM supporters will find it reasonable n acceptable ... Pragmatic buyers will think twice.. 4 Link to post Share on other sites More sharing options...
inlinesix Supersonic October 10, 2016 Share October 10, 2016 The car is imported by BMW Asia. How much they sell it to PML? Nobody knows. Like than how can PML margin be ridiculous? Die Hard BM supporters will find it reasonable n acceptable ... Pragmatic buyers will think twice.. 116d OMV = SGD 23k Price of 116d from BMW.DE FROM EUR 25k (ex. VAT) Based on BMW.DE price, is it possible to achieve PML selling price? By the way, i have not bought any new car before. Link to post Share on other sites More sharing options...
Victor68 Turbocharged October 10, 2016 Share October 10, 2016 Dont understand why uber/grab keep buying so many new cars? Do they really needs so many cars? If they need to replace their old cars, but thought there should be a stop on buying cars, right? Cant be they will bid for every coe for forever lo?!Like any other biz. If no demand, naturally they have to stop. Artificial buying is for marketing purpose. End of the day, no $ to earn who will continue? 1 Link to post Share on other sites More sharing options...
therock Supersonic October 11, 2016 Author Share October 11, 2016 The Grab / Uber model is quite interesting.. I don't know if it will succeed, especially in a down market. Even if Singaporeans are hard up to own cars, if it's really bad, we may not have the money to do so. A car rental might be the answer, if the renter has spare cash. If he is truly jobless, then it's still a piped dream.. Will be interesting to see how this works out. Link to post Share on other sites More sharing options...
13177 Supersonic October 11, 2016 Share October 11, 2016 The Grab / Uber model is quite interesting.. I don't know if it will succeed, especially in a down market. Even if Singaporeans are hard up to own cars, if it's really bad, we may not have the money to do so. A car rental might be the answer, if the renter has spare cash. If he is truly jobless, then it's still a piped dream.. Will be interesting to see how this works out. But grab/uber model is to allow people to own a car and yet can earn money from it, somehow it might work?! ↡ Advertisement Link to post Share on other sites More sharing options...
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