COE Bidding – 1st Round of May 2019

[awhtc]

The bidding will begin today. The market is always right.

[Kenomi]

If one do not buy now, they are only helping the rental or public hire companies. They do not bother whether you buy or not. They are buying all the same anytime anyday as they are making money while you are spending money.

[aprilfool22]

if those COE paid cars cannot be used for PHV

 

then all the COE paid cars prices will be very cui

 

whole market will be flooded with these cars

 

maybe many will leeturn back to LTA

 

 

Edited May 5, 2019 by aprilfool22

[Sdf4786k]

If one do not buy now, they are only helping the rental or public hire companies. They do not bother whether you buy or not. They are buying all the same anytime anyday as they are making money while you are spending money.

 

those who need to buy, already bought. Those who thought of buying also bought.

 

Left those NATO who TNT - talk and talk ...

[BoneStock]

Agree that he has not factored in the elephant in the room - the COE quota reduction.

 

 

For those w/o ST premium account, let me share some ways that you can read the entire article.  It worked most of the time for me, but not 100%

 

1) Search the title of the article on google.  you may use "Don't rush to push COE prices higher" in this example.  Sometimes, the same article may show up on other websites like sgcarmart, mothership, todayonline, etc.  So you can read the full article there.

 

2) Again, for this example, "Don't rush to push COE prices higher" don't really show up on any of the sites mentioned....so you may add "pressreader" in front of the search....and you can read the original article on pressreader.  See example below

[Octopus]

I think the COE supply will soon balance itself in this '0' growth policy, hence won't rise too much.

1) If coming PHV policy restrict old vehicle to qualify for Grab, etc, then likely these owner would scrap their old vehicle.

2) Recent years many renew their COE for 5 years, these once reach the deadline won't be able to renew and need to scrap.

3) WayDrive Holding took over Lion City Rental in Jan'19 with 10,000 vehicles (of which 8,000 are 2 years and older). These vehicles are acquired during high COE time, I think they would scrap it as no PHV driver would want use "old" car and no point WayDrive Holding holding to depreciating assets.

 

Considering the number of vehicles being scrap, or forced to scrap, I think will bring some relieve to the quota.

[awhtc]

Most of the LCR cars were rented out:

 

Asked why he was buying over the company when the market is deemed over-supplied with cars, Mr. Lim said, "80% of Lion City Rentals' cars are rented out. We are also in talks with Grab and Gojek to supply them cars. We will have a fuller picture in two to three weeks' time." 

 

https://www.sgcarmart.com/news/article.php?AID=20485

 

 

LCR is still active renting out its remaining cars to private hirers:

 

https://lioncityrentals.com.sg/rent-2/

[Jamesc]

I don't know about waiting to last day to renew COE but a lot already renewed when Cat A was 26k and Cat B was 33k.

 

This is even for cars that are only due next year.

 

Most of the LCR cars were rented out:

 

Asked why he was buying over the company when the market is deemed over-supplied with cars, Mr. Lim said, "80% of Lion City Rentals' cars are rented out. We are also in talks with Grab and Gojek to supply them cars. We will have a fuller picture in two to three weeks' time."

 

https://www.sgcarmart.com/news/article.php?AID=20485

 

 

LCR is still active renting out its remaining cars to private hirers:

 

https://lioncityrentals.com.sg/rent-2/

Wah 20% of their cars are just sitting there with no rental.

 

[makeanewcall]

Looking forward to 90k cat a Coe so that I can sell my 46k coe cat a car and take grab/bus everyday!

[Dilemma]

Looking forward to 90k cat a Coe so that I can sell my 46k coe cat a car and take grab/bus everyday!

 

I will sell my 26k COE Cat A car too.

[Mockngbrd]

Most of the LCR cars were rented out:

 

Asked why he was buying over the company when the market is deemed over-supplied with cars, Mr. Lim said, "80% of Lion City Rentals' cars are rented out. We are also in talks with Grab and Gojek to supply them cars. We will have a fuller picture in two to three weeks' time." [/size]

 

https://www.sgcarmart.com/news/article.php?AID=20485

 

 

LCR is still active renting out its remaining cars to private hirers:

 

https://lioncityrentals.com.sg/rent-2/

350mil for 8000 cars is ard 43k per car. (not including any other company assets)

2 yrs ago COE were ard 50+k. Scrap and take back COE/OMV also can. Get back ard 43-45k per car if Prius.

Edited May 6, 2019 by Mockngbrd

[Privacy]

I think the COE supply will soon balance itself in this '0' growth policy, hence won't rise too much.

1) If coming PHV policy restrict old vehicle to qualify for Grab, etc, then likely these owner would scrap their old vehicle.

2) Recent years many renew their COE for 5 years, these once reach the deadline won't be able to renew and need to scrap.

3) WayDrive Holding took over Lion City Rental in Jan'19 with 10,000 vehicles (of which 8,000 are 2 years and older). These vehicles are acquired during high COE time, I think they would scrap it as no PHV driver would want use "old" car and no point WayDrive Holding holding to depreciating assets.

 

Considering the number of vehicles being scrap, or forced to scrap, I think will bring some relieve to the quota.

Need to differentiate what's an opinion and fact.

 

Fact is the recycled coe is lower and got lower YoY.

 

Opinion is you think the cars of 3-5yrs will be scrapped.

[Nav14]

I think the COE supply will soon balance itself in this '0' growth policy, hence won't rise too much.

1) If coming PHV policy restrict old vehicle to qualify for Grab, etc, then likely these owner would scrap their old vehicle.

2) Recent years many renew their COE for 5 years, these once reach the deadline won't be able to renew and need to scrap.

3) WayDrive Holding took over Lion City Rental in Jan'19 with 10,000 vehicles (of which 8,000 are 2 years and older). These vehicles are acquired during high COE time, I think they would scrap it as no PHV driver would want use "old" car and no point WayDrive Holding holding to depreciating assets.

 

Considering the number of vehicles being scrap, or forced to scrap, I think will bring some relieve to the quota.

More people relying on PHV for travelling also means fewer people buying their own cars. Owning a car is no longer one of the 5 "C's" for youngsters.

[awhtc]

AD is also hit by falling quota and increasing competition.

 

 

Tan Chong Motor to close Nissan showroom in Bukit Timah

 

https://www.straitstimes.com/singapore/transport/tan-chong-motor-to-close-nissan-showroom-in-bukit-timah

[Alfc]

More people relying on PHV for travelling also means fewer people buying their own cars. Owning a car is no longer one of the 5 "C's" for youngsters.

Because the housing commitment already killed off the ability of car ownership. So have to re'tune thinking and get psycho that car no longer desirable, go green, sharing economy etc Edited May 6, 2019 by Alfc

[Jamesc]

Always appreciate all the effort you put in.

 

 

 Community Service Time 

2 useful links for our dear MCFers, who are following the bidding exercise:

Real Time COE Bidding Results

Check Your COE Bidding Status

[sunny] Good Luck to all vested!  [sunny]

Past Bidding Results (2001 - 2015)

Past Bidding Results (2016 - 2019)



Trend Chart (May 2017 - Apr 2019) *chart taken from www.sgcarmart.com


PQP (2010 - 2015)

 

 

 

PQP (2016 - 2019)

The details of the May 2019 1st open bidding exercise for Certificates of Entitlement (COEs) are as follows:

Tender opens: Monday, 6 May 2019, 12 noon
Tender closes: Wednesday, 8 May 2019, 4.00 pm
Tender results: Wednesday, 8 May 2019 (Available on the www.onemotoring.com.sg website)

The total quota available for this tender is 4,271 for the following vehicle categories:

NON-TRANSFERABLE CATEGORIES:
Category A: Cars (up to 1600cc & 97kW (130bhp)) => 1,431
Category B: Cars (above 1600cc or 97kW (130bhp)) => 1,139
Category D: Motorcycles => 923

TRANSFERABLE CATEGORIES:
Category C: Goods Vehicles and Buses => 394
Category E: Open Category => 384

 

[Privacy]

AD is also hit by falling quota and increasing competition.

 

 

Tan Chong Motor to close Nissan showroom in Bukit Timah

 

https://www.straitstimes.com/singapore/transport/tan-chong-motor-to-close-nissan-showroom-in-bukit-timah

It's a no brainer to close the showroom at such a prime location selling bnb cars.

I'm surprised they took so long to close it...

Don't think it makes commercial sense to have showroom along that road.

[ER-3682]

AD is also hit by falling quota and increasing competition.

 

 

Tan Chong Motor to close Nissan showroom in Bukit Timah

 

https://www.straitstimes.com/singapore/transport/tan-chong-motor-to-close-nissan-showroom-in-bukit-timah

Tan Chong only bring in "Boring" Models,thanks to the CEVS System...even big Saloon Teana,also don't come in,Their best selling Cabstar Lorry,now come in Petrol Version[Who will buy a Petrol Lorry nowadays with 7km/L FC] .