COE Bidding – 2nd Round of June 2016

[Char]

Uniquely Singapore .... COE can traded like commodities! Big fish like Ubor and others pirate hire are controlling/ manipulating the market .

[merc280v6]

I spoke to a second hand car dealer few days back. He said the COE price will only go up and not go down. His business has slow down so much that he has to find alternative business to do. Reason he said why COE will go up.

 

1) Uber and Grab are bidding aggressively. They want the COE to go up and make 30% downpayment same as 40% downpayment. So people cannot afford to buy car and get from them instead.

 

2) Tan Chong motor also join in the car rental business together with Auto Image.

 

3) A lot of buyer accumulated during Car Expo. One of his kangtao in one of the PI shop, something something shop has 200 order for Vezel and Harrier. This 200 are all from Expo sale, and they have yet to clear them out.

 

4) The info previously, have not add in other PI and also AD. So, with the pent up order, the COE will only go north until 2018, maybe still have chance to come down if there is no intervention from Govt.

 

I think, now the COE will not come down. If wanna buy, better go in and secure COE around 56k for Cat A and 60k for Cat B.

 

My guess is 57k for Cat A, 60k for Cat B.

People must feel the ground.

Pent up demand for cars is turning out to be insurmountable, or so it seems.

[Pocy]

Base on the weekend crowd, this time round shouldn't have double bids received/quota. Should be around 1.5 times the quota.

My take will be a slight drop across all 3 main cat.

Whether there are big crowds, tomorrow onwards will know.

[Quirky]

And there are still potential buyers away on holidays. And the pre-CNY buyers.

[Pocy]

No leh, from my own data base that I have maintained for a couple of years liao. I post these details because people asked for it. I actually prefer the previous version I used for June 1st bidding.

 

 

I part time only. If no time also cannot help.

Good effort

[Carbon82]

 

Ref the chart.

 

In 2012, when there were only 502 Cat A COEs for each bid, COE was $53K 

 

In the recent June 1st bid, there were 2213 Cat A COEs, but the bid price is still the same at $53K.

 

What recession? What economy slowing down? 

 

 

Pal, you forgot the other part of the equation: Demand!

 

The no. of people that have to replace their EOL car in 2012 is much lesser than today. That is why I have long ago said that increase in COE quotat does NOT equate to a plunge in COE premium (back to $10K+ level as many are hoping), 'cos demand increase too.

 

And again, there just so many other factors that could have swing the COE movement overnight, government policies & recession inclusive.

 

[Pocy]

And there are still potential buyers away on holidays. And the pre-CNY buyers.

Just finished bak chang last week, prepare for CNY so soon .... huh ?

[nox1982]

10k coe dream is so yesterday! Come on please wake up. It MIGHT happen during economy crisis or you WILL NEVER LIVE TO SEE IT again.

[merc280v6]

10k coe dream is so yesterday! Come on please wake up. It MIGHT happen during economy crisis or you WILL NEVER LIVE TO SEE IT again.

$10K COE is passé.

10 years ago, population was circa 3.5~4 million.

Soon to be 6~6.5 million.

How could demand for cars stay flat?

[Char]

All pirate hires fault ... Without them the COE could traded much lower ...

[Vinceng]

Back to the old days when taxi COE was in Cat A

[JaysenTan]

All pirate hires fault ... Without them the COE could traded much lower ...

No demand no supply. It's the demand for such service that cause the surge for leasing of private car to provide such service.

[Prolin_g]

I think there will not be much movement from the previous COE price since there are few comments here that sales has been slow last week. Buyers are back to side line again.

[Blackyv]

Too bad I can't join the bidding game anymore..

 

Anyway, my guessstimation

 

Cat-a: $55

Cat-b: $57

Open: $58

 

[Ocean6576]

Cat-a: $60k
Cat-b: $63k
Open: $63k

[Club21z]

Knn those uni students wanna drive uber.

Mid 20s ah beng wanna drive uber

Out of job 30s wanna drive uber

Ah pek ex taxi driver also driver uber.

Uber is here to realise those drivers dream who could not owe car. Coe how to come down like that ... haiz.

[Pocy]

My PI told me that they are clearing those firm order of Mar/Apr or Apr booking, the slight drop of sale of last week (11 & 12 June) will not have much effect on the coming COE bidding, it will only effect two or three months down the road, but if the sale pick up again, then the COE will hardly drop, imagine there are about 180 plus PI in Singapore (figures obtained from sgcarmart.com), if each PI has 10-20 order per two weeks (COE biding period), it worked out easily 1800-3600 per COE biding, this amount is not yet include those order from AD.

 

By the way, any one know the total no of AD in Singapore?

 

This list of ADs. Small island but vibrant car market.

[merc280v6]

Knn those uni students wanna drive uber.

Mid 20s ah beng wanna drive uber

Out of job 30s wanna drive uber

Ah pek ex taxi driver also driver uber.

Uber is here to realise those drivers dream who could not owe car. Coe how to come down like that ... haiz.

But isn't that an alternate option to provide those in SG whom are marginalised and cannot afford to buy cars (due to rising COEs and requisite down payments), to rent Uber / Grab cars instead, to earn income part time, while also using the same 'rented' cars as their own, to run errands and for family outings?

Unlike the yellow, blue, red and silver taxis, these Uber / Grab cars have no markings or signage - so it eliminates public stigma of driving a taxi for own use!

It sort of narrows down the Gini coefficient and equalises the disparity between rich / middle class and poor / lower class. No?