2016 May, 1st COE Bidding Exercise

[Tigershark1976]

bloody hell.... for cat A, supply increase, demand reduced, price up... what kind of logic is that? think I can throw my Economic 101 to dustbin liao....

 

 

 

[K20VTEC]

I watched channel 8 news tonite.. got someone said uber n grab taxi should hv their category, not bid tgt with consumers..so tt coe will come down.. sth like tt???

If that idea is approved wont that result in gov ownself never check ownself?? the purpose of coe is to control car population and if another coe cat is created just for them and lets say they are given another 1000 available coe to bid that means another 1000 cars on the roads each month belonging to uber / grab

 

If they control car growth by extracting say.. 500 from cat a and b each to contribute to a new cat for private car hire usage...

 

You can wait longlonglonglonglonglong for 10k coe

[Rayoflight]

Take out 1k scrapped cars, put back 500new cars.. All these scrapped car owners would probably buy brand new because used car prices are not coming down that much as compared to new cars

[Ivan_06]

bloody hell.... for cat A, supply increase, demand reduced, price up... what kind of logic is that? think I can throw my Economic 101 to dustbin liao....

I bought my accent at 90k nett with 61k coe. Now accent is selling for $85,699 with 42k coe rebate...

 

Makes no sense sia.

[Ivan_06]

bloody hell.... for cat A, supply increase, demand reduced, price up... what kind of logic is that? think I can throw my Economic 101 to dustbin liao....

Can say goodbye to cheap coe. Coe will most likely remain in the 40s. Remember just as there are many COEs to go around with, there are many people like you whose cars are due for scrap and would be buying...

[Blackyv]

I bought my accent at 90k nett with 61k coe. Now accent is selling for $85,699 with 42k coe rebate...

 

Makes no sense sia.

What was your rebate level back then?..

[Bentankh27]

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

Mine 41k, 3Rd bid

[Rachdanom]

For me those dealer bid 41k or 42k is play play only. If serious to get bid at least 45k.

[LaBamba]

I watched channel 8 news tonite.. got someone said uber n grab taxi should hv their category, not bid tgt with consumers..so tt coe will come down.. sth like tt???

Yes, car rental & car sharing companies & other companies should have their own category. They should be in the same category as taxis. Hope the Govt will do something, now that it's reported in the news.

[Friendstar]

Just my thoughts.

 

Coe should and will stablize ard 40k after Uber and grab are done with their buying spree this year.

 

For next year. Coe might fall to 30s

[LaBamba]

I saw the news too, They r proposing only

It's good that they're proposing changes. Better than nothing being done

[Spidey10]

Just my thoughts.

 

Coe should and will stablize ard 40k after Uber and grab are done with their buying spree this year.

 

For next year. Coe might fall to 30s

Bro, what if it don't..

[Carbon82]

If this round not too many spoiled votes bids, our government will be bagging a record breaking $229mil in COE revenue, smashing the previous record of $214mil acheived exactly a year ago, or about 24% more than $184mil collected just 2 weeks ago.

 

Basing on this trend, total revenue collected from COE bidding alone will be ~$4bil or more for the whole of 2016! LTA huat arh...

OK, results are final. The revenue from May 2016 1st bidding exercise is $228,275,995 (from "sales" of 5,020 COE), a record figure. Imo, it is simply the best business model in the world.

 

For those interested, here are some other revenue figures to allow you to see better why our government do NOT want to intervene with the "invasion" of Uber, Grab, and such...

 

2nd highest record: May 2015 1st bidding exercise @$214,357,154 (3,353 COE)

3rd highest record: May 2015 2nd bidding exercise @$209,228,130 (3,323 COE)

 

Total amount of COE premium collected in 2014: $2,397,173,559

Total amount of COE premium collected in 2015: $4,150,204,983   

 

Estimate for 2016 (based on 1st 4 months data): ~$4.1bil to $4.3bil  (which ~20% lower than what mentioned during budget debate)

 

So anyone still betting on $10K COE?    

[Jemjem]

Yes, car rental & car sharing companies & other companies should have their own category. They should be in the same category as taxis. Hope the Govt will do something, now that it's reported in the news. ð¤

Dun allow companies to bid but jus sell cars and coe will be at e right lvl.

 

I believe everyone can see how much car companies r profitin frm high loans, etc. As of now, I do nt understand y companies shld be given rights to bid on our behalf n profit so much frm coe which is suppose to be a means to control car population, rather than boast car companies profits.

[kmttan]

Don't panic. We are just in the beginning of the abundance of COE. Looking at the age distribution, there will be around 100,000 of cars waiting to be scrapped for the next 3 years. The worst period is not over because there are still 100,000 buyers fighting for 80,000 expired COE. Once this critical period is over, we will see supply = demand. This should happen by the end of this year. All in the sideline will jump in.

 

The best year to buy is 2018/2019 because we will see 60,000 buyers (cars expiring in 2019) with 93,000 available COE released in 2018. Huat ah! 

Edited May 6, 2016 by kmttan

[Pocy]

Dun allow companies to bid but jus sell cars and coe will be at e right lvl.

 

I believe everyone can see how much car companies r profitin frm high loans, etc. As of now, I do nt understand y companies shld be given rights to bid on our behalf n profit so much frm coe which is suppose to be a means to control car population, rather than boast car companies profits.

This is the only way to see a fair COE level that I had mentioned. However, this will not happen in reality. Why? Ask LTA and its boss and boss' boss. Hehe ...

[Carbon82]

bloody hell.... for cat A, supply increase, demand reduced, price up... what kind of logic is that? think I can throw my Economic 101 to dustbin liao....

Beside economic factors, there are social factors, policitical factors, external factors, and much more...

 

In the case of our COE bidding, social & polictical factors are at play now.

 

BTW, I graduated from 社会大学

[kmttan]

OK, results are final. The revenue from May 2016 1st bidding exercise is $228,275,995 (from "sales" of 5,020 COE), a record figure. Imo, it is simply the best business model in the world.

 

For those interested, here are some other revenue figures to allow you to see better why our government do NOT want to intervene with the "invasion" of Uber, Grab, and such...

 

2nd highest record: May 2015 1st bidding exercise @$214,357,154 (3,353 COE)

3rd highest record: May 2015 2nd bidding exercise @$209,228,130 (3,323 COE)

 

Total amount of COE premium collected in 2014: $2,397,173,559

Total amount of COE premium collected in 2015: $4,150,204,983   

 

Estimate for 2016 (based on 1st 4 months data): ~$4.1bil to $4.3bil  (which ~20% lower than what mentioned during budget debate)

 

So anyone still betting on $10K COE?    

 

Looking forward to more income-tax relief.