‘This is the worst I have seen in 20 years’: Quiet showrooms drive many car sales staff out of industry

[Rickster]

4 minutes ago, Ingenius said:

Recently when I bought a new car, the sales person told me that the reason why there are very few visitors to showroom, is due to the fact that this last two years the number of cars to be scrapped is very very low.  But come year 2024, the number of cars to be scrapped will be very much higher, and the supply of COE will then be very high.

My hunch is that during the 2019-2020 period when COE is cheap and alot of people renew 5 year COE for cars such as vios, lancers, altis to be used for PHVs. But most probably the increase in COE will be in the cat A. 

[Picnic06-Biante15]

6 minutes ago, Ingenius said:

Recently when I bought a new car, the sales person told me that the reason why there are very few visitors to showroom, is due to the fact that this last two years the number of cars to be scrapped is very very low.  But come year 2024, the number of cars to be scrapped will be very much higher, and the supply of COE will then be very high.

The sale person could be wrong.  

Its up to Gov to monitor the situation. If revenue collection for vehicles are low (due to too high COE and less bidders), they will increase the number of COE. 

After increase COE, they monitor again and slowly decrease COE. 

Steady revenue ... 

 

[Unfazed]

11 minutes ago, Ingenius said:

Recently when I bought a new car, the sales person told me that the reason why there are very few visitors to showroom, is due to the fact that this last two years the number of cars to be scrapped is very very low.  But come year 2024, the number of cars to be scrapped will be very much higher, and the supply of COE will then be very high.

Lol....didn't some relevant dept already foresee the trend n implemented tweaks to the syst not long ago so that there won't a some sudden surge in supply. Naivety is at a peak. If car salesmen talk can listen, the dead can become vampires.

[Ingenius]

24 minutes ago, Picnic06-Biante15 said:

The sale person could be wrong.  

Its up to Gov to monitor the situation. If revenue collection for vehicles are low (due to too high COE and less bidders), they will increase the number of COE. 

After increase COE, they monitor again and slowly decrease COE. 

Steady revenue ... 

 

If the government wants to increase revenue above everything else, all they have to do is to allow 100 percent loan like last time, demand and COE price will shoot up sky high.

[inlinesix]

Govt revenue from COE is btw $2.9b and $3.9b.

The difference is not substantial enough to increase or decrease govt revenue.

[Mkl22]

57 minutes ago, Rickster said:

My hunch is that during the 2019-2020 period when COE is cheap and alot of people renew 5 year COE for cars such as vios, lancers, altis to be used for PHVs. But most probably the increase in COE will be in the cat A. 

No need to guess. All the stats in one motoring. 

[Lethalstrike]

1 hour ago, inlinesix said:

Govt revenue from COE is btw $2.9b and $3.9b.

The difference is not substantial enough to increase or decrease govt revenue.

COE jin hoh tan leh, where got not substantial enough? 😁

Per bid for CAT B COE is around 400 pieces, at $100k a pop, that's $40 million for CAT B alone per COE bidding. 

[Ingenius]

Singapore roads need maintenance ，LTA, traffic police , power supply, road construction and many things all need money that run into billions of dollars, what's wrong with generating revenue from Coe.  Not to mention the ministries like education, defence etc that are cost centers. 

Edited December 5, 2022 by Ingenius

[inlinesix]

1 hour ago, Lethalstrike said:

COE jin hoh tan leh, where got not substantial enough? 😁

Per bid for CAT B COE is around 400 pieces, at $100k a pop, that's $40 million for CAT B alone per COE bidding. 

Fluctuation in COE price ($1b) does not affect govt revenue ($77bn) substantially la

Edited December 5, 2022 by inlinesix

[Unfazed]

10 minutes ago, Ingenius said:

Singapore roads need maintenance ，LTA, traffic police , power supply, road construction and many things all need money that run into billions of dollars, what's wrong with generating revenue from Coe.  Not to mention the ministries like education, defence etc that are cost centers. 

So go one big round to say something? Take off pants to fart? Or trying some bird talk to convince (confused) that fart will smell nicer if pants are down? Hahaha....

[Lethalstrike]

12 minutes ago, inlinesix said:

Fluctuation in COE price ($1b) does not affect govt revenue ($77bn) substantially la

I totally get what you mean in the grand scheme of things, not refuting you on that 

My point is at close to $100 million per bidding exercise from just CAT A & B, its one of the easiest and no brainer cash cow for the government 😆

[Stratovarius]

4 hours ago, Rickster said:

The value they bring to consumers are convenience, many are willing to pay for it.

But u r right. Their services are not a need at all, for real estate agents, we have a choice not to use them though.

The convenience they bring is the same as what Tesla is doing over the counter albeit you might be abit more involved if dealing with Tesla. They can help you arrange for bank loan, bid for COE and buy your existing car (which they strongly advised against as they told me they will lowball 😅). I know some do not like that as a car is still a big ticket item, and they don't like if the experience is like buying a handphone at singtel.  

[Stratovarius]

3 hours ago, Rickster said:

My hunch is that during the 2019-2020 period when COE is cheap and alot of people renew 5 year COE for cars such as vios, lancers, altis to be used for PHVs. But most probably the increase in COE will be in the cat A. 

COE cars cannot be used for Grab since late 2020. Gojek still can. 

[Fitvip]

3 hours ago, 13177 said:

Car showrooms will never quiet if the coe is low. Lol. 

When the economy is very bad.

[inlinesix]

3 minutes ago, Lethalstrike said:

I totally get what you mean in the grand scheme of things, not refuting you on that 

My point is at close to $100 million per bidding exercise from just CAT A & B, its one of the easiest and no brainer cash cow for the government 😆

I get your point too.  But there is no further upside from COE revenue unless govt allows positive car population growth.

It will forever fluctuate in that region.  

[Volvobrick]

11 minutes ago, Stratovarius said:

The convenience they bring is the same as what Tesla is doing over the counter albeit you might be abit more involved if dealing with Tesla. They can help you arrange for bank loan, bid for COE and buy your existing car (which they strongly advised against as they told me they will lowball 😅). I know some do not like that as a car is still a big ticket item, and they don't like if the experience is like buying a handphone at singtel.  

I actually spent much less time buying big ticket items and more time on the small small ones. 

Big ticket purchase choices are usually very limited, at most 2 or 3, so don't need to think too hard.

[Karoon]

7 hours ago, Throttle2 said:

the multiplier effect is gonna make it (cost of living) hit us bad.

however, not for the low income nor the high income.

more for the middle income.

those between $10,000 to $30,000 per mth. Becos the poor dont spend on high end stuff, the rich can well afford high end stuff.

its the in betweens that always suffer 

9k is low income ya? 

[Jamesc]

70% of the money you pay to buy a car goes to ah gong

in the form of various taxes and COE etc

That leaves only 30% to buy the metal and rubber and glass and plastics

and as we all know the price of metal and rubber and glass and plastics has

all shot up and people to assemble the car and the electricity to stamp the

metal parts and the robots to spray the paint and the ship to cross the ocean to bring the car to SG.

Where got much money left to go to the poor car dealer?

How can selling cars be profitable?

Edited December 5, 2022 by Jamesc