COE Bidding – April 2022

[Bensky]

23 hours ago, SGMCF328 said:

Slight increase in quota from May to July. Hopefully that would help to keep cat B and E price within 5 digit range.

This COE increase is good news for all potential new car buyers - possibility of lower prices around the corner!!

[yishunite]

Cat A was skyrocketing after additional EV category added inside... so additional quota will just steady the ship... maybe temporary decrease but later increase. Most of the beneficiary of this recategorization is PHV company. They happy happy not $100k will sure make Cat A chiong again after numbers steady

Cat B+E net quota still down so 100k still going to bust in next few rounds

[awhtc]

This type of news will just make the PHV/rental companies move in to secure more Cat A COEs.

[Crazy_turtle]

Long ago the big G realised that why sell singaporeans 500k flat for 99 years when they can sell a 200k car for 10 years. Do the sums, people

[Fitmugen]

The EV models moving from Cat B to Cat A are models that are not popular. Maybe sales of 10 units every month. Cat B will resume its move upwards to $120k. Cat A will hopefully go down a bit.

[Sotong1977]

On 4/15/2022 at 8:51 AM, Recharging said:

I say even satellite ERP is too complex. If you increase fuel taxes and remove COE AND ERP, you target both usage and emissions. The only remaining problem is quota. How do you allocate ownership to a fixed vehicle growth rate? At this moment it is tiger eat mouse - violence by money.

Too simplistic to think this way. Increase fuel tax and you hit the public transport operator and business owners too. And they in turn pass on the cost to the ordinary people who don't own cars. And then people start complaining of inflation because you want cheaper private car.

[Recharging]

3 minutes ago, Sotong1977 said:

Too simplistic to think this way. Increase fuel tax and you hit the public transport operator and business owners too. And they in turn pass on the cost to the ordinary people who don't own cars. And then people start complaining of inflation because you want cheaper private car.

The costs of COE and ERP will not be incident in a fuel-tax regime, i.e. the ordinary people share payment for fuel-tax instead of sharing COE/ERP. From an administration point of view it entails far less overhead. Cheaper car ownership MUST entail higher usage costs. Why should PHV and taxi users be entitled to a discount when they bear no risk of ownership? Paying for their fuel just like any other private car owner is paying a fair share. Else go take BMW.

[Sotong1977]

17 minutes ago, Recharging said:

The costs of COE and ERP will not be incident in a fuel-tax regime, i.e. the ordinary people share payment for fuel-tax instead of sharing COE/ERP. From an administration point of view it entails far less overhead. Cheaper car ownership MUST entail higher usage costs. Why should PHV and taxi users be entitled to a discount when they bear no risk of ownership? Paying for their fuel just like any other private car owner is paying a fair share. Else go take BMW.

In order for fuel tax to have an effect on car usage, the fuel tax will have to be very very substantial. What you are suggesting is for ordinary people who take MRT and public buses to subsidies the cost of people buying a car. And I don't just mean business owner operating public transport. Pls read the ST article below on macro economic of fuel price increase.

 

SINGAPORE - Oil and gas prices are going through the roof amid the war in Ukraine, and Singapore is not being spared.

Pricier commodities, including energy resources, can have sweeping effects across the economy, from transport costs to food and utility prices.

Brent, the global benchmark for crude oil, touched a high of US$139 per barrel in Asian trade on Monday (March 7) for the first time since 2008, before paring its gains to around US$130. United States natural gas futures rose to US$5 per million British thermal unit.

Trade and Industry Minister Gan Kim Yong told Parliament on Monday that the conflict will have a significant indirect impact: "One key area we will be significantly impacted by is energy cost, as we import most of our energy needs."

Moody's Analytics senior economist Tim Uy said the crisis will particularly affect countries, like many in Europe, that rely on Russian oil and gas.

The crisis has fanned fears of shortages, given that Russia holds 12 per cent of the world's oil supply and 17 per cent of its natural gas.

Dr Uy added that uncertainty over the conflict will lead to higher oil and natural gas prices worldwide, even if additional supply outside of Russia comes on line.

The Straits Times looks at how the crisis in Ukraine may affect consumers here.

1. Transport and delivery costs

Motorists are now paying more at the pump amid surging oil prices, with all petrol grades now costing $3 or more a litre.

For example, a litre of 95-octane petrol ranges from $3.03 to $3.23, while 98-octane is $3.72 at Shell and $3.51 elsewhere, noted Consumers Association of Singapore's pump price tracker Fuel Kaki.

Since Feb 14, 95-octane petrol - the most popular grade here - has climbed by as much as 45 cents, or 16 per cent.

Consumers may also feel the pinch from higher delivery and ride-hailing fees if companies decide to pass their drivers' additional costs on to customers.

Ms Selena Ling, OCBC Bank's head of treasury research and strategy, said: "Given that fuel pump prices are already reacting to the uptick in crude oil prices, it is likely that some of the increased costs will be passed on to end-consumers in time to come."


2. Utility bills

About 95 per cent of Singapore's electricity is generated using natural gas, which it pipes in from Malaysia and Indonesia and takes in the form of liquefied natural gas from other countries.

The Energy Market Authority has warned that consumers will likely see higher electricity prices when they renew or sign up for new plans. Volatility in the wholesale market has shot up, with the ongoing global energy crunch worsened by supply disruptions resulting from the Russia-Ukraine war.

Potential savings of up to 30 per cent on power bills that were once offered by open electricity market (OEM) retailers are no longer a perk for those renewing or signing up for new price plans, the ST reported on Sunday.

The OEM price comparison website showed that the difference between some retailers' fixed-price plans and national utility SP Group's tariff has shrunk to less than 2 per cent at best.

3. Airfares

Soaring oil prices and increased insurance costs for airlines will in turn lead to higher ticket prices, industry observers told the ST last week.

National University of Singapore Law School professor Alan Tan, whose specialisations include aviation law, said: "If Russian airspace continues to be closed for a while, even to only some carriers, there could be knock-on effects on ticket prices due to overall decreased competition and increased fuel, insurance and aircraft leasing costs."

Mr Rob Morris, global head of consultancy at aviation advisory firm Ascend by Cirium, added that beyond the aviation sector, higher fuel prices will drive up air freight charges, which could lead to increased costs across entire economies.

4. Food prices

Consumers could face pricier groceries and meals at restaurants, fast-food outlets and hawker centres if rising utility and transport costs are passed on to them.

Analysts have also warned that developments in Ukraine could result in an increase in the prices of food staples. Ukraine is the world's third-largest exporter of corn and the fourth-largest exporter of wheat, while Russia is the world's top wheat exporter.

Food inflation was already one of the main drivers of higher consumer prices in Singapore in January, rising 2.6 per cent year on year on the back of costlier non-cooked food and prepared meals.

Ms Ling said food has a relatively high share of the consumer price index basket, at 21 per cent.

"Rising imported food costs - whether due to the wheat shortfall from the Black Sea region or global supply chain bottlenecks, or even climate change - may filter through to end-consumers," she noted.

[Recharging]

5 minutes ago, Sotong1977 said:

In order for fuel tax to have an effect on car usage, the fuel tax will have to be very very substantial. What you are suggesting is for ordinary people who take MRT and public buses to subsidies the cost of people buying a car. And I don't just mean business owner operating public transport. Pls read the ST article below on macro economic of fuel price increase.

 

SINGAPORE - Oil and gas prices are going through the roof amid the war in Ukraine, and Singapore is not being spared.

Pricier commodities, including energy resources, can have sweeping effects across the economy, from transport costs to food and utility prices.

Brent, the global benchmark for crude oil, touched a high of US$139 per barrel in Asian trade on Monday (March 7) for the first time since 2008, before paring its gains to around US$130. United States natural gas futures rose to US$5 per million British thermal unit.

Trade and Industry Minister Gan Kim Yong told Parliament on Monday that the conflict will have a significant indirect impact: "One key area we will be significantly impacted by is energy cost, as we import most of our energy needs."

Moody's Analytics senior economist Tim Uy said the crisis will particularly affect countries, like many in Europe, that rely on Russian oil and gas.

The crisis has fanned fears of shortages, given that Russia holds 12 per cent of the world's oil supply and 17 per cent of its natural gas.

Dr Uy added that uncertainty over the conflict will lead to higher oil and natural gas prices worldwide, even if additional supply outside of Russia comes on line.

The Straits Times looks at how the crisis in Ukraine may affect consumers here.

1. Transport and delivery costs

Motorists are now paying more at the pump amid surging oil prices, with all petrol grades now costing $3 or more a litre.

For example, a litre of 95-octane petrol ranges from $3.03 to $3.23, while 98-octane is $3.72 at Shell and $3.51 elsewhere, noted Consumers Association of Singapore's pump price tracker Fuel Kaki.

Since Feb 14, 95-octane petrol - the most popular grade here - has climbed by as much as 45 cents, or 16 per cent.

Consumers may also feel the pinch from higher delivery and ride-hailing fees if companies decide to pass their drivers' additional costs on to customers.

Ms Selena Ling, OCBC Bank's head of treasury research and strategy, said: "Given that fuel pump prices are already reacting to the uptick in crude oil prices, it is likely that some of the increased costs will be passed on to end-consumers in time to come."


2. Utility bills

About 95 per cent of Singapore's electricity is generated using natural gas, which it pipes in from Malaysia and Indonesia and takes in the form of liquefied natural gas from other countries.

The Energy Market Authority has warned that consumers will likely see higher electricity prices when they renew or sign up for new plans. Volatility in the wholesale market has shot up, with the ongoing global energy crunch worsened by supply disruptions resulting from the Russia-Ukraine war.

Potential savings of up to 30 per cent on power bills that were once offered by open electricity market (OEM) retailers are no longer a perk for those renewing or signing up for new price plans, the ST reported on Sunday.

The OEM price comparison website showed that the difference between some retailers' fixed-price plans and national utility SP Group's tariff has shrunk to less than 2 per cent at best.

3. Airfares

Soaring oil prices and increased insurance costs for airlines will in turn lead to higher ticket prices, industry observers told the ST last week.

National University of Singapore Law School professor Alan Tan, whose specialisations include aviation law, said: "If Russian airspace continues to be closed for a while, even to only some carriers, there could be knock-on effects on ticket prices due to overall decreased competition and increased fuel, insurance and aircraft leasing costs."

Mr Rob Morris, global head of consultancy at aviation advisory firm Ascend by Cirium, added that beyond the aviation sector, higher fuel prices will drive up air freight charges, which could lead to increased costs across entire economies.

4. Food prices

Consumers could face pricier groceries and meals at restaurants, fast-food outlets and hawker centres if rising utility and transport costs are passed on to them.

Analysts have also warned that developments in Ukraine could result in an increase in the prices of food staples. Ukraine is the world's third-largest exporter of corn and the fourth-largest exporter of wheat, while Russia is the world's top wheat exporter.

Food inflation was already one of the main drivers of higher consumer prices in Singapore in January, rising 2.6 per cent year on year on the back of costlier non-cooked food and prepared meals.

Ms Ling said food has a relatively high share of the consumer price index basket, at 21 per cent.

"Rising imported food costs - whether due to the wheat shortfall from the Black Sea region or global supply chain bottlenecks, or even climate change - may filter through to end-consumers," she noted.

Yes fuel prices are shooting through the roof, but COE/ERP is not getting abolished. This is not the scenario here.

Substantial increase? If an average vehicle does 200k km in 10 years, paying a grand total of $100k in COE and $40k in ERP, shifting this burden to fuel will mean at 12km/litre an additional $8 per litre (!!) but no fixed-rate depreciation except ARF. A CAT A car will cost $50k instead of 150k, but owner can expect to pay up $500 for full tank 95. No gantry, people drive slower to reduce aero-drag. It will make everyone VERY mindful of private transport, but will not cost a cent more. Quota can go up, more people can own cars, but they don't dare to drive out.

As I have mentioned, I only have no solution for allocating quota by any other criteria than violence by money - can I statutorily restrict a GCB inhabitant from owning 5 V12 vehicles (COE not relevant at his ARF levels), but not using it on the roads? No. But with a fuel tax, the moment he drive out to la kopi, it will hit him 6 times as hard as a a hybrid family car. approximately $40/h just to idle.

https://www.energy.gov/eere/vehicles/fact-861-february-23-2015-idle-fuel-consumption-selected-gasoline-and-diesel-vehicles

I am talking fantasy here in this forum just like the EV fantasy the government is courting. What I am advocating is a simpler tax structure with consideration for usage reduction but allowing for more ownership. MSCP carparks are underutilised.

[yishunite]

Dont forget fueltax was raise during Covid so in effect we road users are subsidising all kinds of things with our giant tax. Claiming we will be "subsidise" if they tax us less is pure nonsense. It means we will subsidise other ppl less. Call a spade a spade

[alphapunk2]

7 hours ago, Recharging said:

Yes fuel prices are shooting through the roof, but COE/ERP is not getting abolished. This is not the scenario here.

Substantial increase? If an average vehicle does 200k km in 10 years, paying a grand total of $100k in COE and $40k in ERP, shifting this burden to fuel will mean at 12km/litre an additional $8 per litre (!!) but no fixed-rate depreciation except ARF. A CAT A car will cost $50k instead of 150k, but owner can expect to pay up $500 for full tank 95. No gantry, people drive slower to reduce aero-drag. It will make everyone VERY mindful of private transport, but will not cost a cent more. Quota can go up, more people can own cars, but they don't dare to drive out.

As I have mentioned, I only have no solution for allocating quota by any other criteria than violence by money - can I statutorily restrict a GCB inhabitant from owning 5 V12 vehicles (COE not relevant at his ARF levels), but not using it on the roads? No. But with a fuel tax, the moment he drive out to la kopi, it will hit him 6 times as hard as a a hybrid family car. approximately $40/h just to idle.

https://www.energy.gov/eere/vehicles/fact-861-february-23-2015-idle-fuel-consumption-selected-gasoline-and-diesel-vehicles

I am talking fantasy here in this forum just like the EV fantasy the government is courting. What I am advocating is a simpler tax structure with consideration for usage reduction but allowing for more ownership. MSCP carparks are underutilised.

i agree that tax should be based on usage instead of ownership.

[Jamesc]

Please don't give them ideas.

If people are willing to pay 200k for a 10 year COE

then 

a 500k flat for 99 years looks like ridiculously good value and is way under priced!

Now you have put an idea in their head that they should put up the price of flats.

Expect an announcement of flat price increase soon.

On 4/15/2022 at 4:42 PM, Crazy_turtle said:

Long ago the big G realised that why sell singaporeans 500k flat for 99 years when they can sell a 200k car for 10 years. Do the sums, people

 

[Daniu82]

Here so quiet until I checked and found out today got COE bidding. 100k for Cat B??

[Themman]

For some strange reason, this thread is unusually quiet on a bidding day

[Tianmo]

Lai leh lai leh,  tok tok tok,  who going to tok?

Fire fire burn so high,  break the 100k ccb!!! 

 

[13177]

20 minutes ago, Daniu82 said:

Here so quiet until I checked and found out today got COE bidding. 100k for Cat B??

Today bidding no 100k no talk?! Lol.

[13177]

15 minutes ago, Themman said:

For some strange reason, this thread is unusually quiet on a bidding day

The thread might only become alive from 3.30pm onwards la.

[DOBIEMKZ]

24 minutes ago, Themman said:

For some strange reason, this thread is unusually quiet on a bidding day

The calm before a storm....