2016 May, 1st COE Bidding Exercise

[Rachdanom]

My feel of the results is this. Inspite of all the Uber fears and 'panic' buying and Car show, looks like demand is weak relative to supply. We should see $40k coe very soon.

Why u say that when prices have gone north for the last 4 rounds or so?

 

Based on that it would appear a sub 40k would be really hard and likely hover around 45k in the near future?

[flashbang]

My feel of the results is this. Inspite of all the Uber fears and 'panic' buying and Car show, looks like demand is weak relative to supply. We should see $40k coe very soon.

Lol is this a joke? Honestly I expected Cat E to go tumbling down, given the artificially increased quota from 400+ to 700+. It defied logic by staying the same.

 

40k+ looks like the new norm so far.

[Carstar]

With extra coe this bidding but coe still up, you think those on the sideline won't rush in already meh, they wait so long for this bidding to see if drop or up. If drop most likely they will wait on, but now it's up, so they sure panic.

[Char]

This is what pirate hire company want COE stay high and force those rent car from them.

With extra coe this bidding but coe still up, you think those on the sideline won't rush in already meh, they wait so long for this bidding to see if drop or up. If drop most likely they will wait on, but now it's up, so they sure panic.

Sure got some panic and some not ... Definitely affected those sideline mood ...

[G1234]

I think uber skipped this round.

 

spread fear again... LOL

[Arch1984]

As long as there are buyers who sign on the car purchase contract at prices that support the current COE levels, COE wun drop. The AD or PI will die die wanna get the COE to conclude the sale and earn the profit. Only way for COE to drop is for ppl to give up cars or reject the current prices and thats not going to happen. More and more singaporeans are doing well and can afford to support the high coe price.

[Nav14]

With extra coe this bidding but coe still up, you think those on the sideline won't rush in already meh, they wait so long for this bidding to see if drop or up. If drop most likely they will wait on, but now it's up, so they sure panic.

Let all rush in , panicky buyers, Uber etc but sooner or later will get exhausted with the supply still increasing. Then prices will start coming down again. Repeated so many times before and same scenario will play out again. No choice if you cannot wait but if can wait till end of this year or early next year, you should see below $40k prices in both Cat A/B. Uber /Grab car will be forgotten by then, as it is not money is falling from the sky for them or demand for such cars is so high.

Edited May 5, 2016 by Nav14

[MQX87511]

even a silly also know it is bulls**t that talk about "lite car society" without shrinking COE quota, 

since I spent 100k over bought a car, you want me to leave the car at carpark to take bus/MRT or walk, kidding bloh  

[EricChan]

I can tell you what I saw.

About 1000 bids at cat A in this round at $37k were unsuccessful . If I take away from the next fortnight bid of 2200 available cat A Coe and assuming that the number of revision of price in that 1000 unsuccessful bids were insignificant (each of those comprised of one bidder) , it means that only 1200 cat A remains available in the next round.

For cat B , the unsuccessful was 800 bids at $38k meaning only 600 cat B remains.

It is likely not the case therefore that Coe price will be markedly lower next round given the high number of unfulfilled bids at the $37 k support level.

Edited May 5, 2016 by EricChan

[Silk_lee]

I think uber skipped this round.

What made u say that?

[Carstar]

It's funny that I always see people saying those scrap car already most won't be buying because now buy new car must down payment 50%, seriously those people who say that, don't know that lots of PI offerring just 10% down payment and in house loan ?

[Arch1984]

I can tell you what I saw.

About 1000 bids at cat A in this round at $37k were unsuccessful . If I take away from the next fortnight bid of 2200 available cat A Coe and assuming that the number of revision of price in that 1000 unsuccessful bids were insignificant (each of those comprised of one bidder) , it means that only 1200 cat A remains available in the next round.

For cat B , the unsuccessful was 800 bids at $38k meaning only 400 cat B remains.

It is likely not the case therefore that Coe price will be markedly lower next round given the high number of unfulfilled bids at the $37 k matk

Yeah. But i did expect much more bids. Maybe the ad and the pi not bidding for most of their expo sales yet.

[hamster123]

Checked the result earlier.. Din successfully bid the COE, PI bid short of $5.00/- to $51,010.. Hahaha

 

Waiting for next round 16 May. Think COE will not drop for the next 2 month.. Hopefully the PI will increase the amount to secure the COE. My is the guarantee COE.. Already stated in contract to deliver latest by June.

[EricChan]

Yeah. But i did expect much more bids. Maybe the ad and the pi not bidding for most of their expo sales yet.

You get ppl here saying their Pi didn't even bother to put in bid despite on guaranteed and it is probably the case that there is some backlog demand not registered but on the sideline

[Passion]

Let all rush in , panicky buyers, Uber etc but sooner or later will get exhausted with the supply still increasing. Then prices will start coming down again. Repeated so many times before and same scenario will play out again. No choice if you cannot wait but if can wait till end of this year or early next year, you should see below $40k prices in both Cat A/B. Uber /Grab car will be forgotten by then, as it is not money is falling from the sky for them or demand for such cars is so high.

I'll say money is still not a problem for them. The only problem they will face is shortage of drivers due to face value(Big Stickers), difficult to get drivers as many people now probably drive cause no need licensing, when the licensing part comes in, maybe a few of them will drop out of this.

[yo2020]

 

[Rachdanom]

Is it right to say many people got their fat bonus in April at end of financial year so this supports bidding that is bullish?

 

Also, for cat B could it be after the Feb 38k many signed deal for up to 6 bid etc so now the Ad/Pi are trying to secure the huge surge? Hence should die down soon. After the 38k case cat b bids surge to the 2000s range

Edited May 5, 2016 by Rachdanom

[Kazuya]

For those that didnt get this round, how much did your dealers bid for?