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Cat B COE continues upward rise, and supply for upcoming quarter expected to shrink significantly

awhtc

By awhtc,
in General Car Discussion

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DOBIEMKZ

DOBIEMKZ

Turbocharged
1 hour ago, awhtc said:

It is really possible for $100k COE by the end of this year.

A piece of COE is 4 to 5 times the OMV of the car. Signnnn. [;)]

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Ct3833

Ct3833

Supersonic
(edited)

This thread will stay alive  till COE  will hit 120k and beyond, and will continue till 2025.

Edited by Ct3833
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mersaylee

mersaylee

Supersonic
29 minutes ago, Lethalstrike said:

Chill gentlemen, after the peak it will taper off. 

Stabilisation Phase coming soon 😁

Live with covid, live with high coe 

papee wanshui 

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mersaylee

mersaylee

Supersonic
2 hours ago, DOBIEMKZ said:

I thought that was the year the world supposed to end....
image.png.86c82cd3cb7966dd78e7bf2059842683.png

I’m sure the Mayans would also get it wrong on coe prices if they are still around today 😁

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Gnahp

Gnahp

Supercharged
2 hours ago, Wt_know said:

no $100K no talk !!!

BE76820B-B148-4DCC-82EE-5A1FB813307D.jpeg.99fe4d9e033e8b31ea9ce466a3a4b9db.jpeg

85k Open cat is a good indicator which direction it is going in the next bidding

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RH1667

RH1667

Hypersonic
1 hour ago, Lethalstrike said:

Chill gentlemen, after the peak it will taper off. 

Stabilisation Phase coming soon 😁

Soon, will be “ see light at end of tunnel “ 😁

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awhtc

awhtc

6th Gear
  • Author

COE prices soar ahead of supply shrinkage

Christopher Tan

Senior Transport Correspondent

SINGAPORE - Certificate of entitlement (COE) prices ended higher all round in the latest tender on Wednesday (Oct 20), as news of a smaller quota for November-January emerged.

COE premiums for cars up to 1,600cc and 130bhp rose by 12.1 per cent from two weeks ago to cross the $50,000 mark and end at $52,709, its highest since August 2016.

COE prices for cars above 1,600cc or 130bhp climbed 14.3 per cent to breach the $80,000 mark to close at $80,210, its highest since April 2014.

The premium for its proxy, the Open category, chalked the biggest increase of 16.8 per cent – or a whopping $12,244 – to finish at $85,000, its highest since November 2013.

Market watchers attribute aggressive bidding by Tesla to secure COEs as its supply of cars surges after a slow start. The American car brand has overtaken MG as the bestselling electric vehicle make here, with more than 500 units registered as at the end of last month.

Unlike other brands, Tesla does not package its cars with COE. Instead it prices its cars without COE, and then gets customers' approval to bid for a certain COE price - with an allowance for another 15 per cent.

Motor traders said this method almost ensures a steady rise in premiums as the company bears no risk even if premiums soar.

Elsewhere, commercial vehicle COE prices  rose by 4.1 per cent to end at $40,501. The motorcycle premium chalked the smallest increase of 2.9 per cent to finish at $9,310.

The quota reduction for car COEs for the next three months is between 24 per cent and 34 per cent.

Mr Nicholas Wong, general manager of Honda agent Kah Motor, said: “I expected prices to go up, but going up by so much is out of this world.

“Now, the difference between Cat A (cars up 1,600cc) and Cat B (cars above 1,600cc) is nearly $30,000.”

Mr Wong reckoned the rising popularity of electric vehicles (EVs) is “a big factor” in driving up Cat B prices.

“Cat B has become very crowded. Almost all the hybrids and EVs are in there,” he said. 

Mr Neo Nam Heng, chairman of diversified motor group Prime, said the COE supply is so small now that any small increase in demand will move prices significantly.

Mr Ricky Tay, managing director of Volkswagen Group Singapore, pointed out that the number of unsuccessful bids in the latest exercise translates to “almost 80 per cent to 90 per cent of the next allocation” of COEs.

Hence, “the next three months will be quite difficult for the automotive market”, he said.

https://www.straitstimes.com/singapore/coe-prices-soar-ahead-of-supply-shrinkage

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Kopites

Kopites

Supersonic
1 hour ago, awhtc said:

COE prices soar ahead of supply shrinkage

Christopher Tan

Senior Transport Correspondent

SINGAPORE - Certificate of entitlement (COE) prices ended higher all round in the latest tender on Wednesday (Oct 20), as news of a smaller quota for November-January emerged.

COE premiums for cars up to 1,600cc and 130bhp rose by 12.1 per cent from two weeks ago to cross the $50,000 mark and end at $52,709, its highest since August 2016.

COE prices for cars above 1,600cc or 130bhp climbed 14.3 per cent to breach the $80,000 mark to close at $80,210, its highest since April 2014.

The premium for its proxy, the Open category, chalked the biggest increase of 16.8 per cent – or a whopping $12,244 – to finish at $85,000, its highest since November 2013.

Market watchers attribute aggressive bidding by Tesla to secure COEs as its supply of cars surges after a slow start. The American car brand has overtaken MG as the bestselling electric vehicle make here, with more than 500 units registered as at the end of last month.

Unlike other brands, Tesla does not package its cars with COE. Instead it prices its cars without COE, and then gets customers' approval to bid for a certain COE price - with an allowance for another 15 per cent.

Motor traders said this method almost ensures a steady rise in premiums as the company bears no risk even if premiums soar.

Elsewhere, commercial vehicle COE prices  rose by 4.1 per cent to end at $40,501. The motorcycle premium chalked the smallest increase of 2.9 per cent to finish at $9,310.

The quota reduction for car COEs for the next three months is between 24 per cent and 34 per cent.

Mr Nicholas Wong, general manager of Honda agent Kah Motor, said: “I expected prices to go up, but going up by so much is out of this world.

“Now, the difference between Cat A (cars up 1,600cc) and Cat B (cars above 1,600cc) is nearly $30,000.”

Mr Wong reckoned the rising popularity of electric vehicles (EVs) is “a big factor” in driving up Cat B prices.

“Cat B has become very crowded. Almost all the hybrids and EVs are in there,” he said. 

Mr Neo Nam Heng, chairman of diversified motor group Prime, said the COE supply is so small now that any small increase in demand will move prices significantly.

Mr Ricky Tay, managing director of Volkswagen Group Singapore, pointed out that the number of unsuccessful bids in the latest exercise translates to “almost 80 per cent to 90 per cent of the next allocation” of COEs.

Hence, “the next three months will be quite difficult for the automotive market”, he said.

https://www.straitstimes.com/singapore/coe-prices-soar-ahead-of-supply-shrinkage

 

I do like Tesla not tagging car price with coe. Hope more AD can follow suit.😀

Coe bidding solely base on buyer "financial capability" and "intent" . 👍

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Wt_know

Wt_know

Supersonic
(edited)
15 minutes ago, Kopites said:

I do like Tesla not tagging car price with coe. Hope more AD can follow suit.😀

Coe bidding solely base on buyer "financial capability" and "intent" . 👍

i don't know about Tesla ... who bid COE?

Porsche for the longest time ... their car price EXCLUDE COE leh ... 

as long as is "dealer" who bid COE ... their hand will never be soft

you were asked to sign a S&P agreement to "authorize" them to bid COE between $80K to $85K ... whatever market rate

Edited by Wt_know
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sake

sake

Twincharged
4 minutes ago, Wt_know said:

i don't know about Tesla ... who bid COE?

Porsche for the longest time ... their car price EXCLUDE COE leh ... 

as long as is "dealer" who bid COE ... their hand will never be soft

you were asked to sign a S&P agreement to "authorize" them to bid COE between $80K to $85K ... whatever market rate

i do my own bidding.

Stuttgart Auto is ok with it.

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Wt_know

Wt_know

Supersonic
(edited)
2 minutes ago, sake said:

i do my own bidding.

Stuttgart Auto is ok with it.

bro, you are exception [thumbsup] 

my point is as long as 99% of COE is bidded by dealer ... the COE market is "manipulated"

Edited by Wt_know
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Ct3833

Ct3833

Supersonic
(edited)
3 minutes ago, Wt_know said:

bro, you are exception [thumbsup] 

my point is as long as 99% of COE is bidded by dealer ... the COE market is "manipulated"

You see what car he was buying, when he bid COE his hands won't be soft also 🤣🤣most of the car dealers will probably not be able to outbid him 😅😅

Edited by Ct3833
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