COE Bidding – April 2022

[Fitmugen]

18 hours ago, SGCM928 said:

If LTA do not do anything to the distribution of COE quota, the situation is going to get worst every 9 to 10 years down the road.

Those who bought their car now with a $100K COE will likely scrap their rides before 10 years cycle is up, to recoup some money while taking advantage of the lower premium. So by 2032, there will be even lesser recycled COE, and not to mention potentially a negative vehicle population growth rate.

Very good observation. This phenomenon definitely merits policy change by LTA.

What I think will happen is a COE quota stabilization exercise some time in 2024, just before elections. More quota exceeding the stated vehicle growth rate will be released to lower COE prices. Then the quota for 2026-28 (when there is usually a bumper crop of COE) will be reduced to below the vehicle growth rate to balance out. This will help to stabilize COE quota and hence prices, and of course make the electorate happy

[Mockngbrd]

The sunk cost fallacy

https://www.straitstimes.com/life/motoring/motor-mouth-high-coe-prices-may-foil-singapores-car-lite-plans?token=2e9bf6f64a8636cdd5afbb502d14f279-12f460703fd8a858a0b24696abbcf0c79d0e94a6d924a441a39d390d072b2221db4ce9b34742615be9a55719876b3ca7aaa3414ee2436824a21df0df82e951e2

 

Quote

In cities such as Tokyo, Taipei and New York, where car ownership rates are at least double that of Singapore and car prices are significantly lower, the mileage clocked by cars is far lower.

While the above might be true, one thing that sticks out is that all 3 above cities have pretty nice seasonal weather. A closer comparison will have to be with a place like Bangkok or KL. Similarly crappy sweaty weather (tho Bangkok does get much better at certain times of the year) but roads still jammed up. I don't have the solution but imo, a big part of the problem has to do with our humid hot climate. 

 

[RH1667]

1 hour ago, mikk123 said:

let's face it lah. Car in Singapore is not just a transport tool, it is a status symbol lah. You are a boss wearing a Rolex and you drove around in a SUZUKI EVERY?  Some bosses don't mind and they are low profile people. Vast majority of Cat B people won't go for K car lah, not shiok lah when you change from a 2L engine to 600cc engine.  Bosses in SG not drive a Merc or BMW is Sia Suay 🤣

ok mah, i saw people wear Rolex taking bus and MRT also. 

People with Cat B car, may buy the K car for their maid? wife ? kid? 

[inlinesix]

2 hours ago, Fitmugen said:

Very good observation. This phenomenon definitely merits policy change by LTA.

What I think will happen is a COE quota stabilization exercise some time in 2024, just before elections. More quota exceeding the stated vehicle growth rate will be released to lower COE prices. Then the quota for 2026-28 (when there is usually a bumper crop of COE) will be reduced to below the vehicle growth rate to balance out. This will help to stabilize COE quota and hence prices, and of course make the electorate happy

https://www.todayonline.com/singapore/zero-growth-rate-cars-and-motorcycles-extended-3-years-until-jan-31-2025
Zero growth rate until 31st Jan 2025.

If total no of cars don’t drop, we might see Negative growth rate

[inlinesix]

1 hour ago, mikk123 said:

let's face it lah. Car in Singapore is not just a transport tool, it is a status symbol lah. You are a boss wearing a Rolex and you drove around in a SUZUKI EVERY?  Some bosses don't mind and they are low profile people. Vast majority of Cat B people won't go for K car lah, not shiok lah when you change from a 2L engine to 600cc engine.  Bosses in SG not drive a Merc or BMW is Sia Suay 🤣

 

1 minute ago, RH1667 said:

ok mah, i saw people wear Rolex taking bus and MRT also. 

People with Cat B car, may buy the K car for their maid? wife ? kid? 

In HK, I seen Tai Tai with Birkin takes MTR.

In Sg, 🤦‍♀️

[Kar_lover]

2 hours ago, Fitmugen said:

What I think will happen is a COE quota stabilization exercise some time in 2024, just before elections. More quota exceeding the stated vehicle growth rate will be released to lower COE prices. Then the quota for 2026-28 (when there is usually a bumper crop of COE) will be reduced to below the vehicle growth rate to balance out. This will help to stabilize COE quota and hence prices, and of course make the electorate happy

Do you really think that just because of GE, they will increase the quota just to make the electorate happy to get more votes? The electorate is a very very large group of people from all walks of life, many (majority) who do not own a car or even intend to. The real issues will be much broader and much more important. A few thousand additional COEs is not going to change anything. If the govt is really so stupid to think that then we are doomed. Even as a car owner myself, if i already don't like the incumbent, even COE drop by $20k i also still won't like them. Political sentiment/allegiance is not so easily changed. Not even close. 

[Kar_lover]

56 minutes ago, inlinesix said:

https://www.todayonline.com/singapore/zero-growth-rate-cars-and-motorcycles-extended-3-years-until-jan-31-2025
Zero growth rate until 31st Jan 2025.

If total no of cars don’t drop, we might see Negative growth rate

Errr.....The TOTAL number of cars won't drop UNTIL there is a negative growth rate. Under ZERO growth rate, it is a 1:1 replacement, i.e. scrap 1 car, get 1 COE. So total car population remains the same. The only way for total number of cars to drop BEFORE negative growth rate is implemented is that the quota of COEs available was not fully taken up which is more unlikely than hitting TOTO jackpot. And before that happens, u will see $1 COE first.

[Recharging]

22 hours ago, SGCM928 said:

If LTA do not do anything to the distribution of COE quota, the situation is going to get worst every 9 to 10 years down the road.

Those who bought their car now with a $100K COE will likely scrap their rides before 10 years cycle is up, to recoup some money while taking advantage of the lower premium. So by 2032, there will be even lesser recycled COE, and not to mention potentially a negative vehicle population growth rate.

Then dont scrap. Just renew before 10 year cycle up. There is a small window for people who buy now in about 6-8 years time to renew. Write off the last 2-4 years of the high COE and rejoin the cycle at a low COE.

[Mustank]

I love coe

becuase it bring in a lot of revenue for the country 

this kind of tax is ownself one 

nobody force anyone to buy car bid coe

 

[Recharging]

8 minutes ago, Mustank said:

I love coe

becuase it bring in a lot of revenue for the country 

this kind of tax is ownself one 

nobody force anyone to buy car bid coe

 

Indeed. COE is a great concept. Must implement for more than just cars. Anything which is not necessity can implement quota plus COE.

[Mustank]

Just now, Recharging said:

Indeed. COE is a great concept. Must implement for more than just cars. Anything which is not necessity can implement quota plus COE.

You got any ideas anything can impose coe?

[Recharging]

1 minute ago, Mustank said:

You got any ideas anything can impose coe?

11 minutes ago, Mustank said:

I love coe

becuase it bring in a lot of revenue for the country 

this kind of tax is ownself one 

nobody force anyone to buy car bid coe

 

Labour? Companies can bid for COE to bring in FT.  Now is only flat levy. Some form of quota is already in place.

[Volvobrick]

5 minutes ago, Mustank said:

You got any ideas anything can impose coe?

I 1000% sapprok COE for tobacco retail license - and reduce by 10% every year. In 10 years no outlet will be selling cigarettes. 

[Mustank]

8 minutes ago, Recharging said:

Labour? Companies can bid for COE to bring in FT.  Now is only flat levy. Some form of quota is already in place.

Wah!! Love your idea

[Tianmo]

Today coe like sian sian like that,  i see liao also sian sian.

 

[DOBIEMKZ]

3 minutes ago, Tianmo said:

Today coe like sian sian like that,  i see liao also sian sian.

 

Maybe climax at the very last.😁

[DOBIEMKZ]

I saw a $99,999.

[Recharging]

23 minutes ago, Volvobrick said:

I 1000% sapprok COE for tobacco retail license - and reduce by 10% every year. In 10 years no outlet will be selling cigarettes. 

https://6-t.co/en/taxi-license-prices-stabilizing-paris-market-mature/

Anything with quota also can do this. It's just the usual squeezing blood from stone.

CAT B $98,389 who needs to tok?