COE Bidding – March 2023

[Scion]

https://www.facebook.com/reel/994917094724949

☝️ dunno how true but probably not far from the facts that many rich tiongs really come here to snap up properties

while shopping for properties, shun bian buy a few luxury cars at one go? 😁

[13177]

On 3/14/2023 at 7:58 AM, Kyrios said:

🤬😡

https://dollarsandsense.sg/much-government-make-bmw-7-series-sold-singapore/

I believe not only BMW 7 series overpriced, any make/model sold in sg is overpriced.

[Jamesc]

1 in 6 new cars is a PHV.

Not significant?

I don't mind if I got $1 out of every $6 collected in tax.

I don't mind an insignificant amount.

Edited March 14, 2023 by Jamesc

[Confusedboi]

On 3/14/2023 at 8:19 AM, 13177 said:

I believe not only BMW 7 series overpriced, any make/model sold in sg is overpriced.

Wow the dealer  profit margin is so high ..😅 assuming list price of 630k.. gahmen takes a large chunk of money as well due to all the taxes 

Edited March 14, 2023 by Confusedboi

[13177]

On 3/14/2023 at 12:39 PM, Confusedboi said:

Wow the dealer  profit margin is so high ..😅 assuming list price of 630k.. gahmen takes a large chunk of money as well due to all the taxes 

Is this the reason why sg ghment is so rich? 🙄

[Confusedboi]

On 3/14/2023 at 1:02 PM, 13177 said:

Is this the reason why sg ghment is so rich? 🙄

Gahmen rich but large segment of native working population not earning enough to even meet median income  based on median income distribution🙄. Does wealth trickle downwards to the masses😓 

Edited March 14, 2023 by Confusedboi

[kelaihoyin]

Taking basic cost of the latest Civic and removing OMV of 25k, gov is earning ~125k, which is 5x OMV. 

 So the average man pays more in terms of percentage than the rich. 🤨 equality.🤥

 

[Jamesc]

I think this is called the trickle up economy.

We poor people all our money trickle up to the rich people.

[Stratovarius]

On 3/14/2023 at 8:19 AM, 13177 said:

I believe not only BMW 7 series overpriced, any make/model sold in sg is overpriced.

[Forsei]

On 3/14/2023 at 1:43 PM, Confusedboi said:

Gahmen rich but large segment of native working population not earning enough to even meet median income  based on median income distribution🙄. Does wealth trickle downwards to the masses😓 

This is Ok actually. Taxing the rich.

[Ct3833]

On 3/12/2023 at 11:02 AM, inlinesix said:

https://www.lta.gov.sg/content/dam/ltagov/who_we_are/statistics_and_publications/statistics/pdf/M06B-Vehs_by_Type.pdf
4% of total car population.

15% of new car registered in 2022 is PHV.

Proportionally, it had increased by 0.5%

 

PHV is (73,982 / 579,896 = )12.8% not including taxi. 

 

[Ct3833]

On 3/14/2023 at 8:19 AM, 13177 said:

I believe not only BMW 7 series overpriced, any make/model sold in sg is overpriced.

two things, one is government tax like COE, ARF, excise tax etc, these add up to the hefty cost of a vehicle, the money mostly go to the government except the cost which is OMV , next is dealer margin, most of the premium brand dealers are making more than $100k margin per car, this is the secondary cause  of car being over priced. 

Edited March 14, 2023 by Ct3833

[inlinesix]

On 3/14/2023 at 4:24 PM, Ct3833 said:

 

PHV is (73,982 / 579,896 = )12.8% not including taxi. 

 

65% of 73,682 are chauffeured-driven vehicles.  These cars cannot be used for Grab/Gojek

Stats in the hyperlink breakdown the numbers.

Edited March 14, 2023 by inlinesix

[Brass]

On 3/14/2023 at 4:09 PM, Forsei said:

This is Ok actually. Taxing the rich.

Wake up bro, @kelaihoyin summed up perfectly.

Unless you take BMW or is swimming in cash you will be affected disproportionately if you every buy a car.

[yishunite]

On 3/13/2023 at 7:58 PM, Kyrios said:

🤬😡

https://dollarsandsense.sg/much-government-make-bmw-7-series-sold-singapore/

Ok lets say car is worth OMV of $102k. Germany sell at $127k according to article. So dealer made $25k profit. Fair.

But the article says tax came out to just under $370k. Plus OMV of $102k, total is $470k. But selling price in sg is $636k... so dealer made $166k profit margin or 30% more than the entire cost of the car sold in Germany or 160% profit margin on OMV?

Singapore buyers truly carrot lol

Edited March 16, 2023 by yishunite

[Mkl22]

On 3/17/2023 at 5:59 AM, yishunite said:

Ok lets say car is worth OMV of $102k. Germany sell at $127k according to article. So dealer made $25k profit. Fair.

But the article says tax came out to just under $370k. Plus OMV of $102k, total is $470k. But selling price in sg is $636k... so dealer made $166k profit margin or 30% more than the entire cost of the car sold in Germany or 160% profit margin on OMV?

Singapore buyers truly carrot lol

Plus some still take loans. Banks Huat also. Money makes the world go round. Everyone gets their share. 

[Jamesc]

On 3/17/2023 at 5:59 AM, yishunite said:

Singapore buyers truly carrot lol

Yes

jamesc car dealer.

[Jamesc]

On 3/17/2023 at 8:22 AM, Mkl22 said:

Plus some still take loans. Banks Huat also. Money makes the world go round. Everyone gets their share. 

Those sharks make more than me!