COE Bidding - October 2023

[Carbon82]

Comparing the highest and lowest record, really no eye see...

Wanted to add in the usual "Good Luck to All Vested", but am wondering if any MCFer is still buying new car at the current climate (except @RadX who spend real $$$ like hell notes )

3 useful links for MCFers

• Real Time COE Bidding Results
• Check Your COE Bidding Status
• Latest COE Prices and Trending

Highest Record

• Cat A => $105,000 [Sep 2023]
• Cat B => $140,889 [Sep 2023]
• Cat C => $91,101 [Mar 2023]
• Cat D => $13,189 [Nov 2022]
• Cat E => $144,640 [Sep 2023]

Lowest Record

• Cat A => $2 [Nov 2008]
• Cat B => $200 [Jan 2009]
• Cat C => $1 [Mar 2007]
• Cat D => $1 [Mar 2003]
• Cat E => $3,000 [Feb 2009]

Upcoming Bidding Exercise

The details of the October 1st open bidding exercise for Certificates of Entitlement (COEs) are as follows:

Tender opens: Monday, 2 October 2023, 12 noon
Tender closes: Wednesday, 4 October 2023, 4.00 pm
Tender results: Wednesday, 4 October 2023 (Available on www.onemotoring.lta.gov.sg)

The total quota available for this tender is 2,010 for the following vehicle categories:

NON-TRANSFERABLE CATEGORIES
Category A : Cars (up to 1,600cc and maximum power up to 97kW (130bhp); and fully electric car with maximum power up to 110kW (147bhp)) => 785
Category B : Cars (above 1,600cc or maximum power above 97kW (130bhp); and fully electric car with maximum power above 110kW (147bhp)) => 474
Category D : Motorcycles => 497

TRANSFERABLE CATEGORIES
Category C : Goods Vehicles and Buses => 114
Category E : Open Category => 140

[inlinesix]

So fast new month liao

[Ct3833]

Rationally thinking, with nearly 50% more COE allocated for cat A, this cat should at least drop by 10k or so, but if all the potential buyers believe in ADs story that this is going to be once in life time allocation, the panic buying may even push up the COE price.

Have say like no say, but this is the irony. 

My personal believe will be that cat A being for B&B car buyers with a lower budget,  the additinal COE should bring down the COE price.

Cat B is a very different ball game , the fact that LTA didn't  even give 1 additioanl allocation, one can imagine the intended outcome they want it to be, and it will happen.....continue to go up.

 

Meantime, dont blame LTA, they asked for $1, it is the buyers who are willing to pay ADs to bid up the COE price. 🤣 if others are willing to pay and can afford to, then i only have myself to blame 😭

Edited October 2, 2023 by Ct3833

[ksapple]

150k for cat A in Oct!

Huat ah~!

[Ginyu]

On 10/2/2023 at 9:52 AM, Ct3833 said:

Rationally thinking, with nearly 50% more COE allocated for cat A, this cat should at least drop by 10k or so, but if all the potential buyers believe in ADs story that this is going to be once in life time allocation, the panic buying may even push up the COE price.

Have say like no say, but this is the irony. 

My personal believe will be that cat A being for B&B car buyers with a lower budget,  the additinal COE should bring down the COE price.

Cat B is a very different ball game , the fact that LTA didn't  even give 1 additioanl allocation, one can imagine the intended outcome they want it to be, and it will happen.....continue to go up.

 

Meantime, dont blame LTA, they asked for $1, it is the buyers who are willing to pay ADs to bid up the COE price. 🤣 if others are willing to pay and can afford to, then i only have myself to blame 😭

Bo pian mah, many want to drive so only way is to out bid each other in order to secure it due to limited allocated coe🤣

[13177]

Coe still same same la, $100k plus plus. 😅

[Mockngbrd]

[Benarsenal]

Won't drop lah. All will want to chiong in at year end. Minimally will just maintain at least.

[Daniu82]

More Cat A COEs then more people bidding, where will drop? 

[yishunite]

All PHV will first chiong lah...only when ridehailing demand drop then COE got chance to come down

[Kklee]

IMHO.

These are the reasons why I think  likely Cat A COE will rise despite the increase in number of COEs available.

1)   9% GST in 2024
2)   Lesser VES A2 rebate in 2024
3)   More stringent VES A2 in 2024
4)   Backlog of buyers with non-guaranteed COEs
 

[Wildfaye29]

Knn

Wlwlbbql

[Fitmugen]

Bigger quota so what?

PHV rental, Rental fleet like Getgo all going to cheong in Cat A liao. Maybe drop $50 let you upgrade your wiper

[Weenemone]

On 10/2/2023 at 2:14 PM, Fitmugen said:

Bigger quota so what?

PHV rental, Rental fleet like Getgo all going to cheong in Cat A liao. Maybe drop $50 let you upgrade your wiper

Exactly they'll bid however high it takes since they're going to pass the cost down to their drivers and renter anyway.

And business is booming. When I was still using Getgo last year only a few vehicles available near me, now I check there are a total 14 vehicles within 500m of my home including a couple of brand new EVs

[Arogab]

No way COE going to drop looking at this current situation. All the rich cheong to buy lor

[Ginyu]

On 10/2/2023 at 2:14 PM, Fitmugen said:

Bigger quota so what?

PHV rental, Rental fleet like Getgo all going to cheong in Cat A liao. Maybe drop $50 let you upgrade your wiper

Phv rental are anticipating more to be jobless or fresh grads cannot get jobs  so need to beef up their fleet mah🤣 look around you, is obvious who got jobs and who doing grab

Edited October 2, 2023 by Ginyu

[inlinesix]

On 10/2/2023 at 2:58 PM, Ginyu said:

They anticipating more to be jobless or fresh grads cannot get jobs  so need to beef up their fleet mah🤣 look around you, is obvious who got jobs and who doing grab

Currently, half of new registered PHV are NOT for Grab.

Rather, it is rental for own use.

[13177]

On 10/2/2023 at 2:31 PM, Weenemone said:

Exactly they'll bid however high it takes since they're going to pass the cost down to their drivers and renter anyway.

And business is booming. When I was still using Getgo last year only a few vehicles available near me, now I check there are a total 14 vehicles within 500m of my home including a couple of brand new EVs

Perhaps more people are joining car sharing scheme, this is why GetGo can expand so aggressively. Also, the reason why there are so many GetGo car site near to each other, could be also due to each car site they only deployed 1 vehicle or max 2 vehicles. So must have more car site close to each other for users la, since the car always rented out de.