COE Bidding - November 2023

[Mustank]

Hope coe Cheong 200K 🤑 

 

[Juzcanon]

@Dafansu I see, never knew that they will unload it and then wait for ship to the next destination port. 

[Fcw75]

https://www.msn.com/en-sg/news/singapore/jamus-lim-explains-why-high-coe-prices-are-not-just-a-concern-for-elites/ar-AA1kkXPS?fbclid=IwAR1y8wkmDBVXNMGAvw0KOuQIbCSuy4XJM6myBv_PGxK4y1mtmQCu0WxjmAc_aem_AZYYRhy9r-Lp4Aw4nRCZXuOSpADlNmlJyyPlLGduBB9zsGvYk3Vea6YqtuhJQmK8Sf4

Jamus Lim explains why high COE prices are not just a concern for ‘elites’

He got give suggestions hor, don’t say opposition just complain but no give solution.

Edited November 23, 2023 by Fcw75

[Mkl22]

On 11/23/2023 at 5:12 PM, Fcw75 said:

https://www.msn.com/en-sg/news/singapore/jamus-lim-explains-why-high-coe-prices-are-not-just-a-concern-for-elites/ar-AA1kkXPS?fbclid=IwAR1y8wkmDBVXNMGAvw0KOuQIbCSuy4XJM6myBv_PGxK4y1mtmQCu0WxjmAc_aem_AZYYRhy9r-Lp4Aw4nRCZXuOSpADlNmlJyyPlLGduBB9zsGvYk3Vea6YqtuhJQmK8Sf4

Jamus Lim explains why high COE prices are not just a concern for ‘elites’

He got give suggestions hor, don’t say opposition just complain but no give solution.

How can ah gong accept what they deems as si gi nah suggestions. Akin to slapping themselves. 
they are always right…

[Mkl22]

On 11/23/2023 at 2:01 PM, Dafansu said:

these are not for local, more of using it as storage base then move off to next port, been like this for many years, sometimes you see odd new construction vehicles here also

Exactly. These are what you can physically see to make out as cars. Millions of tons of transshipment cargo go thru Singapore. 

[Mkl22]

On 11/23/2023 at 11:14 AM, Kar_lover said:

I think LTA may have made a boo boo.... they should have met up with the big dealers to discuss with them before releasing all the extra COE when dealers all don't have sufficient stock. Their objective of this cut and fill was to reduce COE volatility, end up more volatile than ever....  

LTA talk to dealers? 🤣

those idiots are LTA consider it beneath them. Maybe a repeat of 2007 cat C coe, where there were no euro4 diesel vehicles to sell and thus coe hit $1 for a bit. 
if it happens, I will say yeah! Idiocy at LTA strikes again. 🤣

Edited November 23, 2023 by Mkl22

[Mockngbrd]

On 11/23/2023 at 1:17 PM, Kar_lover said:

Why would commercial (i.e. for profit) companies push COEs until THAT much higher than last exercise? They have more to gain by keeping it low (more profit for themselves and/or hirers). And where was this commercial demand 2 weeks ago when Cat B dropped by $40k? Why didn't they bid up to $135k (or at least close to it) like yesterday as alleged? Commercial demand doesn't happen overnight. How does he know what the "market was expecting"? Just find that all these comments are agenda-driven. If they think its so good to do then they can also jump in on this "commercial" bandwagon. Ownself don't want to do then begrudge those that are. I dislike PHV drivers as much as the next guy but i concede at least they are willing to do it so give chance a bit whenever possible lol   

And by the way, it is very normal for bids to come in last minute. It's called sniping, i.e. putting in the final bid before it closes so that u are the last successful bid. Those old enough to be familiar with ebay would know this.

 

Of cos better for phv when Coe up. Less ppl can afford car=more ppl use phv. Costs of Coe just pass down to drivers, few bucks more a day only. Last exercise prob kenna fk by pap, so they diam diam. 

Phv companies easily last min can throw down a few 200k bid le. What's Coe to them? 

 

 

[Ct3833]

Everyone is making noise as if they will buy cat B car, fact is cat A has already dropped by 10k for 2 month consecutively but no one is celebrating 🤣

Edited November 23, 2023 by Ct3833

[Kar_lover]

On 11/23/2023 at 8:14 PM, Mockngbrd said:

Of cos better for phv when Coe up. Less ppl can afford car=more ppl use phv. Costs of Coe just pass down to drivers, few bucks more a day only. Last exercise prob kenna fk by pap, so they diam diam. 

Phv companies easily last min can throw down a few 200k bid le. What's Coe to them? 

 

 

It doesn't matter if the PHV companies last minute throw $1 million bid because the COE premium is based on the LOWEST successful bid. So if got 1,000 COEs and 1,000 bidders of which 999 are PHV that bid $1m but 1 person bid $1, COE will still be $1. So I would think the last minute bidders are likely the smaller PI dealers who are bidding for their customer as they don't bid "in bulk" like AD or PHV so they can snipe bit by bit.

[Kar_lover]

On 11/24/2023 at 7:49 AM, Ct3833 said:

Everyone is making noise as if they will buy cat B car, fact is cat A has already dropped by 10k for 2 month consecutively but no one is celebrating 🤣

Market by and large got no stock so u can't buy if u had not done so earlier. Kia showroom yesterday told me now they are selling Feb 2024 cars. And the price for Niro Hybrid is more or less the SAME as BEFORE the extra COEs were issued. So although Cat A dropped $20k but VES "increased" by $10k and they need to buffer for COE increase once next year arrives so lppl, no change in price. And their neighbour Citroen even worse, selling 2024 stock at +$15k higher than October's pricing ($156k to $171k). 

 

[Kar_lover]

On 11/23/2023 at 8:05 PM, Mkl22 said:

LTA talk to dealers? 🤣

those idiots are LTA consider it beneath them. Maybe a repeat of 2007 cat C coe, where there were no euro4 diesel vehicles to sell and thus coe hit $1 for a bit. 
if it happens, I will say yeah! Idiocy at LTA strikes again. 🤣

I don't believe in slamming govt just for the sake of it. For my industry, the govt agency in charge does have regular engagement with us. I am in one of their focus groups to give suggestions on how to improve specific areas which i am in charge of in my company. The Minister (full Minister, not MOS) even came for a meeting at my office together with the CEO and DCEO and other heads of the agency to discuss issues and ideas with my CEO and top Management.

But yes, in this case, maybe LTA missed something or had no time to engage the industry players to find out the situation first. Maybe they expected that ADs will always have stock. 

[Kar_lover]

On 11/23/2023 at 4:31 PM, Dafansu said:

these are not for local, more of using it as storage base then move off to next port, been like this for many years, sometimes you see odd new construction vehicles here also

Thank u for ur clarification. This is how misleading things can be when people see 1 thing and anyhow post. Just to add the photo didn't even have any date that can verify when it was taken. Could have been a photo from a different time altogether. Anyway hope to see more responsible posts here so as to have more meaningful discourse.

[Philipkee]

On 11/24/2023 at 7:51 AM, Kar_lover said:

It doesn't matter if the PHV companies last minute throw $1 million bid because the COE premium is based on the LOWEST successful bid. So if got 1,000 COEs and 1,000 bidders of which 999 are PHV that bid $1m but 1 person bid $1, COE will still be $1. So I would think the last minute bidders are likely the smaller PI dealers who are bidding for their customer as they don't bid "in bulk" like AD or PHV so they can snipe bit by bit.

It actually does.  Let’s say they know the lowest successful bid is 85k. They need 30 cars.  They throw in 30 bids at 100k knowing full well they will only pay 85k plus a bit more if their 30 bids changes the lowest successful bid by a lot

That could also explain why the spike is always at the last few minutes

[Philipkee]

On 11/24/2023 at 7:51 AM, Kar_lover said:

It doesn't matter if the PHV companies last minute throw $1 million bid because the COE premium is based on the LOWEST successful bid. So if got 1,000 COEs and 1,000 bidders of which 999 are PHV that bid $1m but 1 person bid $1, COE will still be $1. So I would think the last minute bidders are likely the smaller PI dealers who are bidding for their customer as they don't bid "in bulk" like AD or PHV so they can snipe bit by bit.

It actually does.  Let’s say they know the lowest successful bid is 85k. They need 30 cars.  They throw in 30 bids at 100k knowing full well they will only pay 85k plus a bit more if their 30 bids changes the lowest successful bid by a lot

That could also explain why the spike is always at the last few minutes

[Kar_lover]

On 11/24/2023 at 10:11 AM, Philipkee said:

It actually does.  Let’s say they know the lowest successful bid is 85k. They need 30 cars.  They throw in 30 bids at 100k knowing full well they will only pay 85k plus a bit more if their 30 bids changes the lowest successful bid by a lot

That could also explain why the spike is always at the last few minutes

Ok but the other post said they "don't care how much is the COE", in which case if they needed 30 COEs, then they can just throw in  30 x $200k bids at the outset already, no need to wait until last minute cos in the end the "bottom feeders" will be the ones that determine the actual COE. Hence I still think the last few minutes are those small dealers trying to secure COE at lowest possible level cos it hits their margin. 

[Kar_lover]

Anyway it is what it is la, we discuss until so much as if it changes anything 😂😁 in the end most people will still believe what they want to believe. 

[boonhat_91]

On 11/24/2023 at 7:49 AM, Ct3833 said:

Everyone is making noise as if they will buy cat B car, fact is cat A has already dropped by 10k for 2 month consecutively but no one is celebrating 🤣

not time to celebrate yet, as someone mention recently, 85k could once get a whole car PLUS cat A coe

[Philipkee]

On 11/24/2023 at 10:23 AM, Kar_lover said:

Ok but the other post said they "don't care how much is the COE", in which case if they needed 30 COEs, then they can just throw in  30 x $200k bids at the outset already, no need to wait until last minute cos in the end the "bottom feeders" will be the ones that determine the actual COE. Hence I still think the last few minutes are those small dealers trying to secure COE at lowest possible level cos it hits their margin. 

Why they don’t throw 200k at the outset because they want to know what is the coe reserve price first.  Later they throw in 200k thinking they don’t need to actually pay that amount and it turns out to be the reserve price?  So they wait till the last minute.

My point is they are willing to throw in 30x 200k bids cos they want to secure the coe but don’t expect to actually have to pay that amount.  Unless it becomes a pay what you bid for system, this will continue.