2015 Dec, 2nd COE Bidding Exercise

[Tcx607]

IMO, the car price on the road is final figure $$$$ everyone wish for.

Today, walked past the PI showroom and saw many B&B Japanese car price below 90K

Honda FIT - 88K

Toyota - Sienta 90K

 

This is a good sign for buyer that waited until now.

[Si4dr]

IMO, the car price on the road is final figure $$$$ everyone wish for.

Today, walked past the PI showroom and saw many B&B Japanese car price below 90K

Honda FIT - 88K

Toyota - Sienta 90K

 

This is a good sign for buyer that waited until now.

 

Toyota Sienta 90K? Axio ba....

[Mobycane]

IMO, the car price on the road is final figure $$$$ everyone wish for.

Today, walked past the PI showroom and saw many B&B Japanese car price below 90K

Honda FIT - 88K

Toyota - Sienta 90K

 

This is a good sign for buyer that waited until now.

Glad that I'm in a comfortable position to hold on to my car for another 4 yrs to wait for the COE to drop further. 

[Philipkee]

I would like to ask a noob question. Directed to anyone, including car dealers here if there are.

 

How come coe prices are so high?

 

I mean the govt only sets the quota. Its the bidders who are the dealers who bid the price and the lowest successful bid is the coe price, right?

 

So why don't the dealers all bid $1.00, $2.00 and so on.

 

Cos obviously the car dealers have more or less arranged among themselves what to bid, otherwise Mercedes could be bidding too low that they cannot secure a single coe or everyone one bid too high that they end up getting a coe that is so high that they lose money.

 

So why they never arrange among themselves to bid low and everyone earns, except G?

 

Of course I understand that business is business and there is competition but a few rounds of unity and everyone wins, except the G.

 

Of course new plans might then have to be hatched but at least people get cars at lower prices.

Edited December 30, 2015 by Philipkee

[Tcx607]

You have answered your question.

<Of course I understand that business is business and there is competition>

Everyone need to grap sales for their business.

More importantly, the buyers already agreed to pay for high COE i.e 55K, let's say on a car price of $110,000 on the road. Why must dealer bid @ $1 ? How to answer to all customers if cannot secure COE for them?

Customer also will check how much you bid?

So, demand surpass supply = COE $$$$ high

[flashbang]

I would like to ask a noob question. Directed to anyone, including car dealers here if there are.

 

How come coe prices are so high?

 

I mean the govt only sets the quota. Its the bidders who are the dealers who bid the price and the lowest successful bid is the coe price, right?

 

So why don't the dealers all bid $1.00, $2.00 and so on.

 

Cos obviously the car dealers have more or less arranged among themselves what to bid, otherwise Mercedes could be bidding too low that they cannot secure a single coe or everyone one bid too high that they end up getting a coe that is so high that they lose money.

 

So why they never arrange among themselves to bid low and everyone earns, except G?

 

Of course I understand that business is business and there is competition but a few rounds of unity and everyone wins, except the G.

 

Of course new plans might then have to be hatched but at least people get cars at lower prices.

 

Once left to the free market, it is impossible to control it. If dealers are able to arrange among themselves to bid, then they would immediately be investigated for price fixing and fined severely by the government. And once bidding starts, dealers all want to sell as many cars as possible, as long as they still have a decent profit margin on each. 

[Heman75]

I realized that when COE are high dealers tends to willing to have a lower margin, meaning removing the coe value, the cars are cheaper then. 

 

when i got one of my cars at coe 78k, the nett price that i have paid is 220k but now with coe 50+k , the nett car price they are selling is higher at 230k. so where does the money goes to? the maybe have slightly higher omv from 43k to 46k and better equipped like sun roof. 

 

so the bottom line is , dont expect car price to drop in equivalent to the coe drop. dealers then to take advantage of lower coe to increase profit margin.

[Smellyfeet]

I would like to ask a noob question. Directed to anyone, including car dealers here if there are.

 

How come coe prices are so high?

 

I mean the govt only sets the quota. Its the bidders who are the dealers who bid the price and the lowest successful bid is the coe price, right?

 

So why don't the dealers all bid $1.00, $2.00 and so on.

 

Cos obviously the car dealers have more or less arranged among themselves what to bid, otherwise Mercedes could be bidding too low that they cannot secure a single coe or everyone one bid too high that they end up getting a coe that is so high that they lose money.

 

So why they never arrange among themselves to bid low and everyone earns, except G?

 

Of course I understand that business is business and there is competition but a few rounds of unity and everyone wins, except the G.

 

Of course new plans might then have to be hatched but at least people get cars at lower prices.

 

3 words bro.. Competition Commission Singapore.

[Zeally]

IMO, the car price on the road is final figure $$$$ everyone wish for.

Today, walked past the PI showroom and saw many B&B Japanese car price below 90K

Honda FIT - 88K

Toyota - Sienta 90K

 

This is a good sign for buyer that waited until now.

sienta 90k? share which pi pls. i want to sign now!

[flashbang]

I realized that when COE are high dealers tends to willing to have a lower margin, meaning removing the coe value, the cars are cheaper then. 

 

when i got one of my cars at coe 78k, the nett price that i have paid is 220k but now with coe 50+k , the nett car price they are selling is higher at 230k. so where does the money goes to? the maybe have slightly higher omv from 43k to 46k and better equipped like sun roof. 

 

so the bottom line is , dont expect car price to drop in equivalent to the coe drop. dealers then to take advantage of lower coe to increase profit margin.

 

Yup this is true sometimes. Car prices don't move dollar for dollar with COE prices. ADs have to price their cars while anticipating the upcoming COE price.

[Tigershark1976]

Once left to the free market, it is impossible to control it. If dealers are able to arrange among themselves to bid, then they would immediately be investigated for price fixing and fined severely by the government. And once bidding starts, dealers all want to sell as many cars as possible, as long as they still have a decent profit margin on each. 

 

Yup, totally agree, expecially with open bidding system, every dealers need to secure the deal for their customers. Bid too high, will lead the COE price heading north, which B&B car segment will suffer. Bid too low, they wont get it.

[yo2020]

no joke, $99,999 for Altis is indeed possible now.

based on BM's latest price for the cheapest Altis, the listed price is $106,888.

this is b4 the $2k celebratory discount, in-house finance n insurance rebates.

of course, there will also b "on the spot" discount!!

 

but still, pls don't commit jz yet... hor hor hor... merry x'mas!!!

 

jz checked straits times this am, Altis @ $100,988 (ceh, still so ex)!

not sure can still gv how much discount at show rm.

 

[Ben5266]

jz checked straits times this am, Altis @ $100,988 (ceh, still so ex)!

not sure can still gv how much discount at show rm.

 

Maybe 5k over trade. Effective is 96k.