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COE Bidding – 1st Round of May 2019

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[flowerface] Community Service Time [flowerface]

2 useful links for our dear MCFers, who are following the bidding exercise:

Real Time COE Bidding Results

Check Your COE Bidding Status

[sunny] [sunny] Good Luck to all vested! [sunny] [sunny]

Past Bidding Results (2001 - 2015)


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Past Bidding Results (2016 - 2019)
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Trend Chart (May 2017 - Apr 2019) *chart taken from www.sgcarmart.com
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PQP (2010 - 2015)

 

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PQP (2016 - 2019)

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The details of the May 2019 1st open bidding exercise for Certificates of Entitlement (COEs) are as follows:

Tender opens: Monday, 6 May 2019, 12 noon
Tender closes: Wednesday, 8 May 2019, 4.00 pm
Tender results: Wednesday, 8 May 2019 (Available on the www.onemotoring.com.sg website)

The total quota available for this tender is 4,271 for the following vehicle categories:

NON-TRANSFERABLE CATEGORIES:
Category A: Cars (up to 1600cc & 97kW (130bhp)) => 1,431
Category B: Cars (above 1600cc or 97kW (130bhp)) => 1,139
Category D: Motorcycles => 923

TRANSFERABLE CATEGORIES:
Category C: Goods Vehicles and Buses => 394
Category E: Open Category => 384

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Chiong!!

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Up, up and away...

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PQP (2010 - 2019)

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just a correct for the PQP. it should be 35411 for April and 39563. the whole row needs to be shifted down.

 

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Up up down down up up down

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Most likely is up up and away for Cat A, B and E based on latest news like reduction of quota and bidding from Gojek. 

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should be on an aggressive up for few more rounds

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I will say down this bid. Based on the crowd when i went to the motorshow. 

 

Cat A - Drop $1k

Cat B - Drop $2k

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There is still lots of backlog to fulfill, especially those who booked when Cat A was at $26K.

 

Car distributors will not bid aggressively, else it will eat into their profit margin.

 

But with a 3 weeks gap this round, prices will likely head north, with limited rise up to 10%

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The trends for CAT B n E looks scary

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The trends for CAT B n E looks scary

Your little hard earned money are being pitted against large venture capital MNC which have almost unlimited funding from investors worldwide. 

 

You think you can stand a chance? Our COE system was not designed for such disruptive biz and once again, our systems have shown that it favors the super rich as well as large corporations who are determined to start their biz here regardless of the cost. 

 

My advice is either you go BMW altogether and let these corporations run the show, and you subscribe to their ride svcs, or u keep buying and throwing those 9+ yrs old cars if you really need to put your hands on a steering wheel and drive a car   

 

This is what a perfect country looks like. Opps, I cannot complain too much, else some conman... I mean...'influcencer' whose name sounds like NAS storage would come here and belittle sinkies for being 'lack of perspective' 

 

[laugh]  [furious]

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The trends for CAT B n E looks scary

 

You have a choice to go for a brand new Cat A car.

 

Perodua Bezza - $64K

Mitsubishi Attrage - $65K

Hyundai Accent - $69K

 

They serve the same purpose as your Cat B car and can sit 5 comfortably.

 

Another option is to get a 2009 Cat B car with renewed 10 years COE like the Nissan Teana that will set you back by a mere  $55K, or if status is critical for you,  a 2009 Mercedes E200 W212 at $78K 

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You have a choice to go for a brand new Cat A car.

 

Perodua Bezza - $64K

Mitsubishi Attrage - $65K

Hyundai Accent - $69K

 

They serve the same purpose as your Cat B car and can sit 5 comfortably.

 

Another option is to get a 2009 Cat B car with renewed 10 years COE like the Nissan Teana that will set you back by a mere  $55K, or if status is critical for you,  a 2009 Mercedes E200 W212 at $78K 

 

You sure the 3 can sit 5 'comfortably'? and can they still move with say,,5x  80kg guys on board? 

 

Well your counter is cold comfort to anyone la. Instead of KPKB at gov for their crazy COE system, you are telling pple that hey, don't be sad. I know you were able to afford a Kia Sorento SX or Opel Insignia 2L back late last year.

 

Well you still have options for a new car today ya.. See the 3 choices above... All 3 still comes with new car smell for you....blah blah..blah...

 

Duh.... :blink:  [hur]

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@Cheefarn

 

Having such a negative outlook gets you nowhere.

 

Different people, different strokes.

 

Tap water or bottled Evian water serve the same purpose - quench your thirst

 

A burger at MacDonalds or Shake Shack both fill your stomach.

 

If a 999cc Perodua Kenari can sit 5 pax and bring a family on holiday to Genting Highlands, why can't a Mitsubishi Attrage, Perodua Bezza or Hyundai Accent.

 

You know - I have a friend who never dines at hawker centres because he says the food is unhygienic, and only dines at restaurants.

 

There are some people like him, high up there and aloof, who feel that the government owes them a car, nothing less than a Cat B car to be precise.

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Like stock market, every month new record!

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@Cheefarn

 

Having such a negative outlook gets you nowhere.

 

Different people, different strokes.

 

Tap water or bottled Evian water serve the same purpose - quench your thirst

 

A burger at MacDonalds or Shake Shack both fill your stomach.

 

If a 999cc Perodua Kenari can sit 5 pax and bring a family on holiday to Genting Highlands, why can't a Mitsubishi Attrage, Perodua Bezza or Hyundai Accent.

 

You know - I have a friend who never dines at hawker centres because he says the food is unhygienic, and only dines at restaurants.

 

There are some people like him, high up there and aloof, who feel that the government owes them a car, nothing less than a Cat B car to be precise.

Very well said! +1

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You have a choice to go for a brand new Cat A car.

 

Perodua Bezza - $64K

Mitsubishi Attrage - $65K

Hyundai Accent - $69K

 

They serve the same purpose as your Cat B car and can sit 5 comfortably.

 

Another option is to get a 2009 Cat B car with renewed 10 years COE like the Nissan Teana that will set you back by a mere  $55K, or if status is critical for you,  a 2009 Mercedes E200 W212 at $78K Accent 

Accent is now 72999?

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Accent is now 72999?

 

That's the list price.

 

Promo price is $69,799.

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Interesting article from straits time, advising now it’s not best time to change car

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Interesting article from straits time, advising now itâs not best time to change car ð¤ new regulations coming soon for private hire ï¼wonder what could it be.

 

 

Don't rush to push COE prices higher

https://www.straitstimes.com/lifestyle/motoring/dont-rush-to-push-coe-prices-higher?xtor=CS3-18&utm_source=STiPhone&utm_medium=share&utm_term=2019-05-05%208%3A05%3A56

Read the article. There are some interesting insights/speculations on the private hire companies' strategies.

 

While he thinks that COEs will come down, one aspect not cover is the COE supply trend...

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Agree that he has not factored in the elephant in the room - the COE quota reduction.

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Posted (edited)

Anyone can copy and paste the article here? No premium account here!

Edited by BtyCheers
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Posted (edited)

Credit:ST

Certificate of entitlement (COE) premiums are on the rise. Compared with the start of the year, car COEs have climbed by 28 to 59 per cent to $33,199 (cars up to 1,600cc), $48,000 (cars above 1,600cc) and $52,410 (open).

 

Folks looking to buy a new car might be alarmed. Should they rush out to buy before prices rise further?

 

In a word, no. Because doing so will only fuel the premium hike. Time and again, we have seen similar market responses sending prices even higher and resulting in a self-fulfilling prophecy.

 

The right thing to do is to resist the temptation and wait it out. What goes up will come down and COE prices are no exception.

 

Let those who choose to succumb to fear flock to the showrooms. They might drive prices up, but it will be temporary and at their expense. Once demand from panic buying is soaked up, prices will head south.

 

More so, since the factors fanning the COE flame in recent months have little to do with retail demand. More likely than not, they were linked to competition between the two private-hire operators - Grab and Gojek - here.

 

Let those who choose to succumb to fear flock to the showrooms. They might drive prices up, but it will be temporary and at their expense. Once demand from panic buying is soaked up, prices will head south.

 

Changes to regulations governing the private-hire industry are expected in the next couple of months. Operators could be expecting these changes to have an impact on their businesses and are rushing to grow their fleets now - before new rules are announced.

 

There are two possible scenarios ahead.

 

One, if these new rules are what the industry expects, COE prices will ease because they will no longer be able to operate the way they have been, which drove them to rush for COEs in the first place.

 

Two, if the new rules are not what the industry expects, COE prices will also ease because players would have "bought forward" and no longer need to secure COEs as aggressively as before.

 

Consumers who join the rush now will run the risk of facing negative equity - when the residual value of the car is less than the balance of the owner's loan - when a correction in COE prices comes (and it will come).

 

Many who bought their cars three to five years ago are facing this situation. Some are scrapping their cars prematurely and replacing them with new ones with lower COEs. This is a costly exercise, even if it appears to be one which allows consumers to cut losses.

 

It would be far more prudent to wait for the current frenzy to die down before making your way to the showroom.

 

The considerations are similar for car owners looking to extend the lifespan of their current rides. Some are looking to pay the prevailing quota premium (PQP) now, even though there are several months left before their vehicle's COE expires.

 

They should likewise resist doing so. Especially if the expiring COE is a relatively inexpensive one. They should instead enjoy the use of their low-COE car right up to the last possible day.

 

If PQP - a moving average of quota premiums - turns out to be higher than they are now, so be it.

 

Scrapping a car before its run-out date has a cost too. For instance, if a car has an annual depreciation of $7,500, deregistering it six months earlier would incur an implicit cost of $3,750.

 

Will COE climb $3,750 over the next six months, after having risen by an average of $10,000 since the beginning of the year? Well, even if it does rise by more than $3,750, the cost to those who wait will not be significant.

 

At the same time, those who choose to wait stand the chance of paying a lower PQP should premiums soften.

 

And which direction premiums head in the next few months will depend largely on how consumers behave in the next few weeks.

 

As for the irrational exuberance of private-hire operators, upcoming regulatory changes will hopefully rein them in.

Edited by Clu999
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Posted (edited)

Soon to be announced regulations for Private Hire, is the age limit of the cars used. Max up to 10 years old. You won't get to sit in any COE private hire cars in time to come.

 

A substantial number of private hire cars are now COE cars.

 

What does this mean? There would be a rush to renew the fleet, leading to higher COE prices.

 

I am sure the writer of the ST article knows about this, just that it's politically incorrect to put it in writing prematurely.

Edited by Vinceng
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