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COE bidding - 1st and 2nd round March 2020


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43 minutes ago, Htancl said:

They might use Open Cat to fulfil the orders if the Coe bidding got postpone.

Open cat quota is much smaller than cat A and B. How to use to cover

I dun mind if they freeze COE bidding. But they must also extend existing cars COE expiry accordingly for all. Cannot just extend for those expiring in next three months... we also face depre regardless

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Turbocharged
(edited)
On 4/3/2020 at 9:17 AM, mikk123 said:

 

Bidding is done online, and there are also past orders to fulfill.

Suspending COE biding is a very strong signal of  interference to artificially hold COE prices at high levels and to prevent  a crash which affects the revenue. This is not right.

https://www.straitstimes.com/singapore/transport/coe-bidding-likely-to-be-postponed-motor-traders

 

Edited by Vinceng
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5 minutes ago, Vinceng said:

Bidding is done online, and there are also past orders to fulfill.

Suspending COE biding is a very strong signal of  interference to artificially hold COE prices at high levels and to prevent  a crash which affects the revenue. This is not right.

https://www.straitstimes.com/singapore/transport/coe-bidding-likely-to-be-postponed-motor-traders

 

Profits Above People, what do u think?

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1 hour ago, Vinceng said:

Bidding is done online, and there are also past orders to fulfill.

Suspending COE biding is a very strong signal of  interference to artificially hold COE prices at high levels and to prevent  a crash which affects the revenue. This is not right.

https://www.straitstimes.com/singapore/transport/coe-bidding-likely-to-be-postponed-motor-traders

 

Fully agreed with your statement

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Twincharged
(edited)
1 hour ago, Vinceng said:

Bidding is done online, and there are also past orders to fulfill.

Suspending COE biding is a very strong signal of  interference to artificially hold COE prices at high levels and to prevent  a crash which affects the revenue. This is not right.

https://www.straitstimes.com/singapore/transport/coe-bidding-likely-to-be-postponed-motor-traders

 

Since when did they care what you think is right? 

Edited by Mkl22
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1 hour ago, Lotr said:

Profits Above People, what do u think?

Just look at the covid19 situation, they wanna hold GE during this period! U judge for yourself how good this gov is...

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2 hours ago, Vinceng said:

Bidding is done online, and there are also past orders to fulfill.

Suspending COE biding is a very strong signal of  interference to artificially hold COE prices at high levels and to prevent  a crash which affects the revenue. This is not right.

https://www.straitstimes.com/singapore/transport/coe-bidding-likely-to-be-postponed-motor-traders

 

Already Dipping into reserve and bleeding money big time. I guess from a policy marker perspective. It's only right to charge people who wants to pay to help fund govt spending and infrastructure e.g. public transport. 

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4 hours ago, Lufu said:

Already Dipping into reserve and bleeding money big time. I guess from a policy marker perspective. It's only right to charge people who wants to pay to help fund govt spending and infrastructure e.g. public transport. 

What about from the people's perspective? Many will lose jobs or pay cut. Why must the people help fund spending. this spending you refer to includes their million dollar salaries you know? Haven't they touted how much reserves they have?

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21 hours ago, kelaihoyin said:

Actually there is a simple solution.

Let the Coe Bid continue.  

Announce that in view of the situation, COE quota for month of April will be reduced by 90%.

This 90% will be returned back to the pool gradually from May onwards.  The reason is to prevent sharp swings in COEs.

Those who car is due to be scrapped in April but now have issues getting a new car because of this can have the option  of scrapping as planned OR pay pro rated monthly PQP and road tax for this period.

Pro rated road tax - if the road tax is $1200 yearly, they need to pay $100.

Pro rated coe - if PQP is $24000, that's $2400 per year or $200 for monthly coe.

Like this it is fair for all and less disruption.

My two cents.

 

Edited by Philipkee
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32 minutes ago, Crazy_turtle said:

What about from the people's perspective? Many will lose jobs or pay cut. Why must the people help fund spending. this spending you refer to includes their million dollar salaries you know? Haven't they touted how much reserves they have?

Disagree.  But I will be very shocked if there are people losing jobs it having pay cuts buying cars now.

I would have thought they would be relieved if coe is suspended and they could withdraw their purchase. 

And those rich ones should not have problems paying...

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they can stop the bidding and fix COE price at last drawn price, or PQP price for next two rounds.  

it's not about revenue or what not, but the system is not designed to work in this kind of situation and all you can do is to keep it in animated suspension and revive it when things normalize. 

 

 

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Neutral Newbie

Even if COE crashes,  showroom and dealers all closed there will be no one to take the orders. It will just accumulate all potential orders in May and COE will surge again. Just my thought.

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2 hours ago, Philipkee said:

Actually there is a simple solution.

Let the Coe Bid continue.  

Announce that in view of the situation, COE quota for month of April will be reduced by 90%.

This 90% will be returned back to the pool gradually from May onwards.  The reason is to prevent sharp swings in COEs.

Those who car is due to be scrapped in April but now have issues getting a new car because of this can have the option  of scrapping as planned OR pay pro rated monthly PQP and road tax for this period.

Pro rated road tax - if the road tax is $1200 yearly, they need to pay $100.

Pro rated coe - if PQP is $24000, that's $2400 per year or $200 for monthly coe.

Like this it is fair for all and less disruption.

My two cents.

 

i wish your the the transport minister. too bad...

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4 hours ago, Philipkee said:

Actually there is a simple solution.

Let the Coe Bid continue.  

Announce that in view of the situation, COE quota for month of April will be reduced by 90%.

This 90% will be returned back to the pool gradually from May onwards.  The reason is to prevent sharp swings in COEs.

Those who car is due to be scrapped in April but now have issues getting a new car because of this can have the option  of scrapping as planned OR pay pro rated monthly PQP and road tax for this period.

Pro rated road tax - if the road tax is $1200 yearly, they need to pay $100.

Pro rated coe - if PQP is $24000, that's $2400 per year or $200 for monthly coe.

Like this it is fair for all and less disruption.

My two cents.

 

Tooooo goooood to be happening dude! Do u know this is $$$ingapore? 😁

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I believe LTA should allow upcoming COE bidding to continue. Ppl who buy cars in February and March should not be penalise due to the shutdown. While LTA can suspend the 2nd bidding in April, the quota should be divided and add to next quarter. For sure price will take a dip since it will be unrealistic for COE to raise given current economic outlook for rest of the year. 
 

i have a question, 2nd hand car dealer will still open in April? Reason is I just scrap my car 2 weeks ago, I’m those who will still be working in April. 
 

Best regards

Taka

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Turbocharged
13 minutes ago, Takahiro said:

I believe LTA should allow upcoming COE bidding to continue. Ppl who buy cars in February and March should not be penalise due to the shutdown. While LTA can suspend the 2nd bidding in April, the quota should be divided and add to next quarter. For sure price will take a dip since it will be unrealistic for COE to raise given current economic outlook for rest of the year. 
 

i have a question, 2nd hand car dealer will still open in April? Reason is I just scrap my car 2 weeks ago, I’m those who will still be working in April. 
 

Best regards

Taka

Most appropriate that you forward this question to LTA

[email protected]

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8 hours ago, Fu11thr0tt1e said:

Tooooo goooood to be happening dude! Do u know this is $$$ingapore? 😁

Dont understand.  Cut coe by 90% on april keeps price up.  Based on absolute number of COE the revenue is lower for april BUT u r getting it back in the following months cos absolute quota for year is not cut

You can restore it after april gradually but it can be so gradual price doesnt go down.

I miss anything here?

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