COE Bidding – November 2021

[SGMCF328]

On 11/1/2021 at 9:18 AM, Lotr said:

Up down up down up up up

Tesla authorised by buyers to bid up to 15% above the current COE. Seeing Teslas OTR regularly.  How strong is Tesla's order book remains to be seen

Just a few months back, Tesla Singapore gained applause for pricing their car reasonably (with low profit margin) and now with escalating COE price, the tide turns and suddenly they are been "blamed" for snapping up cat B and probably cat E COE in the last few bidding exercise.

Well, from their buyers perspective, the car is still "cheap" even if they bid say $10K more above the market price (based on latest bidding), so look like Tesla is going to get blaming by both ADs and car buyers... 好人难做! 

[Yongwd]

Will Cat A burst $60k barrier? 😨

[Sdf4786k]

22 minutes ago, SGMCF328 said:

Just a few months back, Tesla Singapore gained applause for pricing their car reasonably (with low profit margin) and now with escalating COE price, the tide turns and suddenly they are been "blamed" for snapping up cat B and probably cat E COE in the last few bidding exercise.

Well, from their buyers perspective, the car is still "cheap" even if they bid say $10K more above the market price (based on latest bidding), so look like Tesla is going to get blaming by both ADs and car buyers... 好人难做! 

When grab n Uber was in a bidding war n drove prices up, there were no blame game. 
 

anyway, the general observation is the market n job market is not the best of years currently n the current climate of escalating coe only goes to those that have deep pockets or have a real need to buy a new car. So be it if it hits 130k in the next few cycles..

If can afford it .. buy lor .. to me it’s amazing that some will squeeze and compare prices yet happy to pay 90k for a car coe. The coe itself is deprecated 9 k a year. 
 

I suppose it’s cheaper to be a Malaysian and have a work permit in Singapore n drive a Malaysian car 

[Jamesc]

People are so negative here.

I try to see the bright side.

COE goes up more people come to buy my good quality affordable used cars.

[Roh96]

1 hour ago, mikk123 said:

unlikely. This pandemic has made rich richer, Poor poorer or largely unchanged. Not many willing to fork out 100k for a Mitsubishi Attrage! 😁

Very soon we will see BMW and Merc rolling out variants that fit Cat A COE. 

C class with 130hp or E class with 130hp. 😀

[Calvin8808]

1 hour ago, Sdf4786k said:

When grab n Uber was in a bidding war n drove prices up, there were no blame game. 
 

anyway, the general observation is the market n job market is not the best of years currently n the current climate of escalating coe only goes to those that have deep pockets or have a real need to buy a new car. So be it if it hits 130k in the next few cycles..

If can afford it .. buy lor .. to me it’s amazing that some will squeeze and compare prices yet happy to pay 90k for a car coe. The coe itself is deprecated 9 k a year. 
 

I suppose it’s cheaper to be a Malaysian and have a work permit in Singapore n drive a Malaysian car 

Well, I'm happier being a Singaporean and paying higher prices for cars, properties and just about anything instead of being a Malaysian for the environment, security, political stability, efficiency, anti-corruption and many other things. Well everything have it's pros and cons and I'm happy where I am.  

[Calvin8808]

1 hour ago, mikk123 said:

unlikely. This pandemic has made rich richer, Poor poorer or largely unchanged. Not many willing to fork out 100k for a Mitsubishi Attrage! 😁

I agreed unlikely but never say never, it did hit a high of $92K in 2013.

If $100K for Attrage is the cheapest car and the not so well off still need a car why not? I'm sure in 2013 at that high the cheapest car at that will be much more than $100K?

 

[Ahpan]

@Yongwd 

2 hours ago, Yongwd said:

Will Cat A burst $60k barrier? 😨

Anything is possible now because of the lower quota. The rich are really rich out there who can afford $60k 🙂

[darviathan]

2 hours ago, mikk123 said:

unlikely. This pandemic has made rich richer, Poor poorer or largely unchanged. Not many willing to fork out 100k for a Mitsubishi Attrage! 😁

When average car price is rising too much, a 100k attrage will appear cheap to many buyer. not forgetting there's also quite a few choices in Cat A.

The only way to bring down demand is govt to bring back the downpayment to 40% cat A and 50% cat B when COE goes too high to prevent over leverage.

[Lotr]

1 hour ago, Roh96 said:

Very soon we will see BMW and Merc rolling out variants that fit Cat A COE. 

C class with 130hp or E class with 130hp. 😀

Done and done. C160 and E180 were sold for a short while. May make a comeback

[13177]

8 minutes ago, Lotr said:

Done and done. C160 and E180 were sold for a short while. May make a comeback

Hardly see any E180 on the road. C160 maybe still can see once a blue moon.

[Fitvip]

3 hours ago, Sdf4786k said:

 

I suppose it’s cheaper to be a Malaysian and have a work permit in Singapore n drive a Malaysian car 

This cannot be done! 

[Jtis]

3 hours ago, SGMCF328 said:

Just a few months back, Tesla Singapore gained applause for pricing their car reasonably (with low profit margin) and now with escalating COE price, the tide turns and suddenly they are been "blamed" for snapping up cat B and probably cat E COE in the last few bidding exercise.

Well, from their buyers perspective, the car is still "cheap" even if they bid say $10K more above the market price (based on latest bidding), so look like Tesla is going to get blaming by both ADs and car buyers... 好人难做! 

Depends how you look at it. I am no fan of higher coe prices, everyone is affected, i will also be impacted in a few years' time. But with a lower quota, prices will go up regardless. Just a matter of how much, how fast.

I still support the low profit margin direct sales model by Tesla. The buyers of Tesla authorised the coe bidding with their eyes open, it is bid what you are prepared to pay. If prices were to go up, I rather the price increase goes to higher coe prices that has residual value to the individual car owner, rather than it going to the mid 5 digit dealer markups,  which vanishes the minute you drive out from the showroom.

The middleman dealer markups in Singapore are obscenely high, highest in the world if I am not wrong. Of course, the reality is that in short term, there is going to be both coe increase plus obscene dealer markup, propelling the new car prices to the moon.

Really, I am hoping that this loss of market share for the traditional car dealers, will make them rethink their obscene markups, since their cars are not competitively priced. Singaporeans drivers are already paying through their noses for the privilege of driving. Why continue to be the carrothead to the dealers? 

[Calvin8808]

1 hour ago, Ahpan said:

@Yongwd 

Anything is possible now because of the lower quota. The rich are really rich out there who can afford $60k 🙂

But the reach unlikely to go for Cat A? I mean of course some will cos it's maybe a 2nd car, 3rd car etc. But most rich will go for cars that are Cat B?

[Calvin8808]

3 hours ago, Sdf4786k said:

When grab n Uber was in a bidding war n drove prices up, there were no blame game. 
 

anyway, the general observation is the market n job market is not the best of years currently n the current climate of escalating coe only goes to those that have deep pockets or have a real need to buy a new car. So be it if it hits 130k in the next few cycles..

If can afford it .. buy lor .. to me it’s amazing that some will squeeze and compare prices yet happy to pay 90k for a car coe. The coe itself is deprecated 9 k a year. 
 

I suppose it’s cheaper to be a Malaysian and have a work permit in Singapore n drive a Malaysian car 

 

42 minutes ago, Fitvip said:

This cannot be done! 

It can be right? Malaysian working in Singapore and thus driving the Malaysian car here just that need to renew VEP?

I'm not sure, anyone knows?

[Bensky]

Rising COE is indicative of strengthening economy which is good.
7%-9% growth for this year is really good cheers for all!

 

[Ho2786]

never underestimate the power of FOMO

but don't worry lah

coe will drop wan

 等著等著就老了

Edited November 3, 2021 by Ho2786

[Fitvip]

31 minutes ago, Calvin8808 said:

 

It can be right? Malaysian working in Singapore and thus driving the Malaysian car here just that need to renew VEP?

I'm not sure, anyone knows?

@Calvin8808 Cannot lah, unless the work pass holder stays permanently outside Singapore. The vehicle has to be in his name and it has to be used or kept at least 6 hours outside Singapore everyday. In addition, he has to purchase Autopass for paying of fees and charges. The vehicle must have valid insurance policy.