COE Bidding – June 2022

[Ody_2004]

19 minutes ago, mikk123 said:

the rich we are talking about are the really really rich. It is not just 1 or 2 million cash in the bank type, we are talking about 50m to 100 m type. Ask a average worker in Singapore to bid against this kind of rich?  That 100K COE to them is just a 50 cents coin in your wallet....

So the super rich can have 3 or 4 cars for even a maid in the house, the average joe can't even afford one. This is not  good for social cohesion. If this continues, there will be a huge surprise in the next election. high wealth disparity is never good for the ruling government. 

Yeah but the govt love these UHNWI.. they are still attracting more to our sunny island. 
no doubt some come and created job opportunities but i see many come because of the safe haven status.. park $$ safe safe.. esp u see see many moving funds from HK, indonesia etc

i am worried for my kids and the future generations.. 

[Ody_2004]

3 minutes ago, mikk123 said:

super rich will pass on their wealth through family office and the next few generation is secured. If you are an average joe, not easy to catch up. You can show your displeasure in 2 years time...😁

Been showing.. but others still prefer white..

[Daniu82]

4 minutes ago, Ody_2004 said:

Been showing.. but others still prefer white..

Just let them lose the super majority can already. I don't ask for much. 

[Jamesc]

New cars are bought by petrol station owners, restaurant owners, all the business owners that keep putting up their prices lah 

5 hours ago, SLing said:

How would you explain why the demand for cars is higher inspite of the high petrol prices, high car prices, high food prices etc?

 

[RH1667]

10 hours ago, Tianmo said:

You got standby FAD? Tok liao tok liao... 

 

Yes Sir! FAD and infusion pack standby liao. But this round, no one tok lah, did not see any comment about " tok " 😄

Now sibey stress, should sell my 3 years old car and buy a new one for bragging right or not 🤣

[Scion]

i'm curious to know how many % of new cars are bought by those rich foreigners, PRs

and on avg, how many cars they own here

as usual, govt won't release these kind of data 😁

[Tianmo]

45 minutes ago, RH1667 said:

Yes Sir! FAD and infusion pack standby liao. But this round, no one tok lah, did not see any comment about " tok " 😄

Now sibey stress, should sell my 3 years old car and buy a new one for bragging right or not 🤣

Oh no one tok this time ah?  Knn no fun one like that. 

Bragging right comes with a price one,  I waiting for cat A to cross $100k,  then I faster go claim my laughing right. 

 

[DOBIEMKZ]

3 minutes ago, mikk123 said:

that was one time the boss of prime motor said that when rich mainland Chinese buyers walked into his showroom  to buy two or three Alphard using CASH! 

 

I smell money.....laundering.

[Arogab]

No need to hope COE go down lah. I know of someone whose Porky going to be 10 years liao. Tok about how and what to buy, they say, buy COE, then buy another Bentley. How COE coming down when just already buy X2 for the kid and another one for the mother.......you know lah, someone is who

[Scion]

The COE thread this time...

before the bidding results -> slow, few replies, almost forgotten

after the bidding results -> lots of excitement, thread moves quickly 😁

Edited June 9, 2022 by Scion

[Kopites]

1 hour ago, Arogab said:

No need to hope COE go down lah. I know of someone whose Porky going to be 10 years liao. Tok about how and what to buy, they say, buy COE, then buy another Bentley. How COE coming down when just already buy X2 for the kid and another one for the mother.......you know lah, someone is who

Whatever go up will come down. Is a matter of times.

10 years cycle. The gradient can never be a constant straight line.  Spend within one mean. After all ride is merely a ride. 😁

[mersaylee]

More hot monies cum here

More old rich cum here

More new rich with many coins to full coins

More new goons cum for icing on the cake kena carrot cake

Invisible hen 1 2 help see fewer chia on the road, more kah chia on pcn, more kah walk into train...

[Wolfverine]

Compare this thread to the May 2nd round bidding, the buzz created on this round's COE bidding is thriving - not sure izzit because of the achievement of the great $100k milestone or there are really that many people with a stake in it this time 🤣

[darviathan]

1 hour ago, Scion said:

The COE thread this time...

before the bidding results -> slow, few replies, almost forgotten

after the bidding results -> lots of excitement, thread moves quickly 😁

Been awhile since COE thread has been so active. lol

[Jujitsuka]

Not bad... means can sell my car n earn monies again LOL

[Atonchia]

2 hours ago, Scion said:

i'm curious to know how many % of new cars are bought by those rich foreigners, PRs

and on avg, how many cars they own here

as usual, govt won't release these kind of data 😁

The number of newly arrived rich doesn't really matter a lot. 

A quick overview will be using current statistics. 

Total households in SG is 1.37m.

35% of households own cars.

1% are the UHNW households = 13700 households. Let's say each household has 3 cars, that will be 41k luxury cars. 

Total vehicle population is 1m, of which 600k are private vehicles, 

So the ultra rich cars probably account for 7% of cars on the road. 

But these cars unlikely to be on the road at the same time, hence not likely contribute to vehicle traffic.

COE is affected by bidding and push up by this group of 13700 households when they change cars. 

So COE is not helping to reduce vehicle traffic on the road, It's design to increase the price of cars. So indirectly reduce car ownerships and car population. 

ERP idea is to redirect peak hours traffic to other timing at high density locations. 

So the more cars this UHNW group hold, the less goes back into the pool.

There will still be a strong demand from the remaining of top 10% households in SG. 

Let's assume the top 2-10% households (123,300) has 150k cars.

With the 41k, total is 191k cars.

These numbers will likely be in the open cat or cat B.

The larger the wealth level increase, the higher the demand for luxury and super luxury cars. 

The top 11-20% households (137,000) will likely be looking at cat-A cars and a portion looking at cat B cars. Likely 1 car per household in this group = 137,000 cars.

Then 21-35% is 205,500 likely Cat-A cars.

So estimates:

Top 10% owns 191k cars

Top 11-20% owns 137k cars

Top 21-35% owns 205k cars

77k PHV, 

Total is 610k cars 

[13177]

25 minutes ago, Jujitsuka said:

Not bad... means can sell my car n earn monies again LOL

If sell dont buy then earn lo. Lol.

[Jujitsuka]

9 minutes ago, 13177 said:

If sell dont buy then earn lo. Lol.

depends on what you buy... still can earn if you bought the right car.