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Showrooms not opening in Phase 1. What about COE?


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Hypersonic
1 hour ago, Ginyu said:

come Aug more will be jobless and lets see how they secure a car loan🤣

errr... full cash?

😅

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4 hours ago, Mockngbrd said:

I was working for one of the big dealerships in SG a year ago when times were slightly better. The sales manager I tok to was already headache/sian ppl not buying cars liao becos economy was already projected to go down. And this is from one of the most popular brands in sg. Now we are already into recession and also got covid. So no, I don't believe SE talk. 

 

Backlog of orders going up can mean many thing is can mean 100 increase to 10,000 orders, it can also means 1 order increase to 3 orders. 

 

I am still adopting a wait n see attitude towards coe. At least until this backlog clears, then we will have the real picture. No reason to rush and buy car now also since wfh. Those feel otherwise are welcome to put their $$$$ down. 

This is exactly right.

The reason for the slow down in the economy 1 year ago was because of the US trade war with China.

We have not recovered from the trade war and also now got Covid.

The only thing keeping all the economies around the world head above water is the amount for money every government is pumping into the economy.

This is not going to last forever and the money has to be paid back.

When UK gdp is down 20% and most economy is down 10% to 20% then people still believe everyone is rushing out to buy new cars?

Even in countries with no COE and cars are so much cheaper people also not buying new cars people can believe SE saying a lot of people buying?

Just wait for dealers to announce sales staff getting the chop and when you call up your SE they will be saying I now driving PHV, you want to go anywhere?

:grin:

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SE always BS people faster buy now because COE will go up.

And the worse thing is people are so stupid they always fall for it.

And the truth is the more the people think they ownself smart

the dumber they are.

:grin:

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People just have to ask themselves one question.

You think every gov is going to pay companies

to keep people in jobs forever?

:grin:

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Its OK if a lot of people listen to SE kancheong buy car

and then lose their job then we can see a lot of brand new cars

on sales.

But don't write I kenna pok hor say my company got new policy

can claim PHV so I no need car anymore.

:grin:

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(edited)

Wait till you witness the number of existing cars being tow

33 minutes ago, Enye said:

errr... full cash?

😅

Wait till you witness increasing number of new  cars being tow away In coming months and see if they are really full cash🤣

Edited by Ginyu
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Twincharged
(edited)
5 hours ago, Mockngbrd said:

I was working for one of the big dealerships in SG a year ago when times were slightly better. The sales manager I tok to was already headache/sian ppl not buying cars liao becos economy was already projected to go down. And this is from one of the most popular brands in sg. Now we are already into recession and also got covid. So no, I don't believe SE talk. 

 

Backlog of orders going up can mean many thing is can mean 100 increase to 10,000 orders, it can also means 1 order increase to 3 orders. 

 

I am still adopting a wait n see attitude towards coe. At least until this backlog clears, then we will have the real picture. No reason to rush and buy car now also since wfh. Those feel otherwise are welcome to put their $$$$ down. 

But it is a quota system. And all bids are fully taken up and they roughly know the upcoming volumes. Can only control if people buy their cars. 
economy up or down doesn’t affect demand. Only affect the coe prices. Never seen a case for the passenger car coe where a portion of the quota is not taken up. It’s always fully subscribed. 

Edited by Mkl22
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47 minutes ago, Mkl22 said:

But it is a quota system. And all bids are fully taken up and they roughly know the upcoming volumes. Can only control if people buy their cars. 
economy up or down doesn’t affect demand. Only affect the coe prices. Never seen a case for the passenger car coe where a portion of the quota is not taken up. It’s always fully subscribed. 

That's because if PI see COE really gonna plunge they will just bid and sell the car as 2ndhand. Since secondhand in Sg sold at straightline depre is no prob

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Turbocharged
36 minutes ago, yishunite said:

That's because if PI see COE really gonna plunge they will just bid and sell the car as 2ndhand. Since secondhand in Sg sold at straightline depre is no prob

yes they can do this in a soft market BUT in a recession they need tonnes of cash to hold stock and buyer getting lesser.. the risk is there

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20 hours ago, Skyline6 said:

If u have been around looking with cars or spoke to any SE. The backlog of orders are piling up and  not decreasing.

If GE is a factor, the more it should go up or maintain. It should not used to pacify a small group of buyers waiting to buy instead it should give entire population who already have car(s) that the price is stable as per what they planned.

Just think about it.

If the dealership of what this SE is saying had routinely received orders of, example, 30 orders per COE bidding exercise (total 60 per month).  And they also managed to clear the order in every COE bidding. Now with this CB, they managed to have 25 orders being placed per the so called COE biddings per month (total 50 per month). But there are no COE biddings due to CB. So, even with lesser input (orders) but no output. Definitely backlog is increasing. Then, this SE is not wrong. However, this SE is not providing the truth picture.

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Turbocharged
On 6/23/2020 at 2:57 PM, Spurman said:

I guess the "mature" MCFers started off in this forum back in 2000s. Almost 15 to 20yrs ago. Myself included. SO it kinda grow on me and with me as well. From a young punk to a mature unker. Hehe.

Back in 2000s, I tink from 2003 to 2009, more people can afford to buy cars then. COE lower. Higher loans, etc. It did gave a young boy like me back then to own a car.  Brand new from 30k to 50k.

Going thru those "terror days" whereby shit, got enough monies to pump petrol or not ah. To got enough money to zheng the bodykit or not ah.

Wind back to today. I think its indeed less affordable to own cars. Probably due to higher COE. Higher tax and also higher pump cost. And prob stagnant starting pay compared back to my young punk era. So I kinda "pity" the new gen 20s who like me back in my younger rebellious days wanting to get a car.

 

actually i tot cars are more "affordable" now as the COEs are lower (compared to 100k in the late 1990s/early 2000s, and 70k in the mid 2010s?)

and young people get better starting pays now

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Turbocharged

only time will tell if covid can change normal working culture forever....

if in future, people can WFH or at least work away from office for 2-3 days per week, it will change many people's mindset to buy cars

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(edited)
6 hours ago, Scion said:

 

actually i tot cars are more "affordable" now as the COEs are lower (compared to 100k in the late 1990s/early 2000s, and 70k in the mid 2010s?)

and young people get better starting pays now

Last time down-payment dunno how much only mah. Now 30-40%. Small 100k car also need to chut 30k cash down first. 

Edited by Mockngbrd
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(edited)

SE knows sinkies always easy gancheong and kiasu, so always threaten COE go up soon. Same trick for many years and it still works.

Now is new normal, so rush to buy car for what? Most people working from home, and we are dealing with recession and job insecurity. If you have cash, hold it for little longer and observe the market.

Old people always say “you got money you scare people don’t want sell you car meh?” 

Edited by publicfigure
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Supersonic
29 minutes ago, mikk123 said:

COE confirm coming down one. so many retrenchment coming, where got money to buy car? feed stomach also got problem. Once COE fall, the i guess SUZUKI will make a comeback with many small Kei car on the road...it will be fun to watch. 

Must see how low the coe will drop?!

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On 6/28/2020 at 5:34 PM, Scion said:

 

actually i tot cars are more "affordable" now as the COEs are lower (compared to 100k in the late 1990s/early 2000s, and 70k in the mid 2010s?)

and young people get better starting pays now

I remember my dad's honda accord in the late 90s is like almost 140K!!! Even a corolla or a sunny during those times are easily 90-100K!

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