COE Bidding - 1st Round of October 2016

[Matrix0405]

The biggest 'car dealers' now is LTA. Last 2 months, 2500 per month  (Cat A, 5-yr alone) re-validated their COE, beating any dealers hands down. Dealers have lost a big chunk of business to them. 

[Pocy]

Exercise extra careful when buying from PIs.

 

Just saw the news.

[Apple-Tree]

quickly run for your life !!!  The Sky is falling ......... quickly sign on the dotted line .....

 

 

Omg....

where u get this info from??

 

So the rest of us, should just rent from this certain car rental company? LCR?

It depends on how many COEs they decide to bid for at each round right? to slowly gather enough...

But 1500 cars, maybe 3 bids can finish liao mah.. assuming abt 2000 COEs at each bid.

 

Wow, on average they paid 70K ...... Cash ??

 

 

 

Exercise extra careful when buying from PIs.

Just saw the news.

 

[therock]

It may not drop a lot this round, but I do feel that next year after CNY, the price may drop.. it's a matter of how long you can hold.. 

[Ct3833]

Exercise extra careful when buying from PIs.

 

Just saw the news.

Then name of the company already provides some tell tale sign before you place your money with them.

[Apple-Tree]

LTA look more like a C2B internet portal business leh.  They don't even print road tax disc loh ...... 100% e-business.

 

It is a 1 product company like apple, buy COE or revalidate COE.

 

 

 

The biggest 'car dealers' now is LTA. Last 2 months, 2500 per month  (Cat A, 5-yr alone) re-validated their COE, beating any dealers hands down. Dealers have lost a big chunk of business to them. 

 

[Ct3833]

The biggest 'car dealers' now is LTA. Last 2 months, 2500 per month (Cat A, 5-yr alone) re-validated their COE, beating any dealers hands down. Dealers have lost a big chunk of business to them.

The PIs are complaining to the minister about unfair practice because their cars subject to emission check when importing used car but those who renew coe do not need to go through the same

Basically they sell less since 25% of coe didnt get recirculated,they feel jealous. The ministry said they are looking into it , but not sure if will wait till new lta chief comes onbaord in Nov. Whichever case, renewing coe is going to cost more for sure because MAS now realised they lose >100% of ARF and 27% excise tax for every renewal.

Edited October 4, 2016 by Ct3833

[merc280v6]

I wonder why some people are still hopeful that COE prices will crash? Isn't it so blardy obvious that everybody in this country, who thinks that they can afford a car (including private hire), will want a car?

 

Just look at the number of LCR cars on the road (black tape on bottom of registeration plate, or otherwise). Each and every one of 'em had taken up one COE.

 

Then we have the high influx of expats and short-term visitors (business & leisure) propping up a rateable demand for rental cars and growth of this business.

 

And marginalised locals who have been renewing their COEs by the droves, further souring up the supply side of the equation.

[Matrix0405]

The PIs are complaining to the minister about unfair practice because their cars subject to emission check when importing used car but those who renew coe do not need to go through the same

Basically they sell less since 25% of coe didnt get recirculated,they feel jealous. The ministry said they are looking into it , but not sure if will wait till new lta chief comes onbaord in Nov. Whichever case, renewing coe is going to cost more for sure because MAS now realised they lose >100% of ARF and 27% excise tax for every renewal.

 

 

The situation for MAS is not so dire. They makan your remaining parf value (2500 x $8k parf = $20M) plus additional 10% on road tax; MAS don 'lose' so much. AD lose more; 2500 x $10K (say profit/car) = $25M per mth. No wonder economy tanking.

 

anw, market self healing; the super tsunami (3000 Cat A per bid) did not come, the famine 5 yr from now may not come also.

[Vinceng]

Omg....

where u get this info from??

 

So the rest of us, should just rent from this certain car rental company? LCR?

It depends on how many COEs they decide to bid for at each round right? to slowly gather enough...

But 1500 cars, maybe 3 bids can finish liao mah.. assuming abt 2000 COEs at each bid.

. All the 1,500 cars fall under Cat A COE.

[therock]

I wonder why some people are still hopeful that COE prices will crash? Isn't it so blardy obvious that everybody in this country, who thinks that they can afford a car (including private hire), will want a car?

 

Just look at the number of LCR cars on the road (black tape on bottom of registeration plate, or otherwise). Each and every one of 'em had taken up one COE.

 

Then we have the high influx of expats and short-term visitors (business & leisure) propping up a rateable demand for rental cars and growth of this business.

 

And marginalised locals who have been renewing their COEs by the droves, further souring up the supply side of the equation.

The economy isn't doing too well. Not everyone wants to hear that.

So COEs may go south, esp if jobs are lost. 

But there is always demand, everyone wants the joy of owning a car..

[s1nner]

Less than 24hrs later, we will be talking about the aftermath of 1st COE in October. lol

[13177]

The economy isn't doing too well. Not everyone wants to hear that.

So COEs may go south, esp if jobs are lost. 

But there is always demand, everyone wants the joy of owning a car..

Many people just buy first and think later. Lol. Lets see how much coe will increase in today bidding. I dont think for Cat A, it will drop below 50k for this round.

Edited October 5, 2016 by 13177

[therock]

Got chance la..

49999?

 

But next year after CNY. That's when I think any real drop will occur.

[Daniu82]

Many people just buy first and think later. Lol. Lets see how much coe will increase in today bidding. I dont think for Cat A, it will drop below 50k for this round.

 

I predict 50 plus minus 1.5k for cat A.... 

[silverspy]

My prediction is $52-53k for Cat A.

[Char]

CAT A will down as many ex drivers can't afford to buy a car and now become passengers for Uber and Grab ... CAT B will be down too as nothing to cause panic buying ...

This private hire rental car business look like potential bubbles just waiting to burst as no limit on the road and unlikely taxi got control .... just wait and see how Long this private hire Drivers can survive!

[Victor68]

With this flagging economy ok if there are still people willing to contribute more.

 

Hope those who wish to contribute have done their sum and wont be caught with their pants down.

 

Good luck and let's sit back to see result at 5 pm.