2016 Apr, 2nd COE Bidding Exercise

[EricChan]

If I am part of a family of 4 without a car (not much cash) but needs one , we could get an uber car. Me, my brother and my dad could take turns to do our uber driving. How's that for car entitlement or empowerment for theoretically every single household? How much demand is there then not just taxi drivers, unemployed , part timers? Suddenly the possibility is more . Much more. So not a given that demand for Coe from uber will necessarily cease in coming weeks . Nor a zero sum game between uber and cabbies / car renting companies but one that can significantly add to the demand for coe in the future.

Edited April 21, 2016 by EricChan

[Alfc]

Paste a big "UBER" sticker across the passenger doors and both front and back bumpers. 

 

Alternatively, have special car plate series to cater to pte hire cars. Remember many years ago there use to be SZ plates for rental cars so can bring this back.....

[Atonchia]

The govt must make sure the decal is prominent enough to be identified because at the rate the taxis are getting replaced by Uber / Grab, the govt has to very soon allow Uber/Grab to do roadside / taxi stand pick-ups.

That will prevent LTA enforcer from punching Uber driver

[Char]

This pirate hire really up side down the whole taxi industry as well as COE bidding system .

[Heman75]

I bet even if he replied tht he is a fortunte teller, those anti thought will still not believe. Just like Mr Li forecast the coe for this period will hover around 47 to 55k, those have agenda will still betting it will go lower

There is no best time to buy a car but rather there is only comfortable time to buy a car. my philosophy. comfortable to oneself. 

[Char]

There is no best time to buy a car but rather there is only comfortable time to buy a car. my philosophy. comfortable to oneself.

Sound like buy property .

[Sbtyong]

Sound like buy property .

 

Your consideration factor when buying property - which one will gain more

 

Your consideration factor when buying car - which one will lose less

 

different. :)

[flashbang]

Anyway better public transport options will just lead to less ppl buying cars also.

That's great, lesser congestion for me!

Lol. Then some people can really kiss his/her dream goodbye.

Hoping for 10k COE is like hoping for HDB 5 room flat to become 100k again.

[Nav14]

Yah no money borrow from Uber. Drive part time?

 

Party continues leh.

and then govt can say goodbye to their car-lite dreams

[BenTong]

Don't know... too lazy to find out how uber-like schemes work.. not intending to be a driver. Don't really like to drive, that's why don't mind giving up my car since I have alternatives.

 

Hopefully some one else can answer your questions...

I will let my chauffeur do that....

[Kia7200]

This uber took 800+ Coe in april, looking at this rate, I think another 2-3 bidding for this muther fcuker to clear his 1800 Coe target.

 

And this week car show will need another few bidding. Hope no more cb pte hire companies come in and disturb

[Char]

and then govt can say goodbye to their car-lite dreams

The usage will be higher than private car as all this drivers from Uber and Grab must drive very long hours in order to earn 5-6 k a month exclude rental , fuel , parking , insurance and summon . More congested and car heavy Liao , no lite lo ! Edited April 21, 2016 by Char

[Hyruga]

Dunno why uber needs to buy so many new cars.

 

First, most people I know of are staying away from cab cos want to save money due to poorer economy. Nowadays more and more public transport and night riders.

 

Second, most uber drivers not making much money. Barely self sustainable and I believe that most will quit once they find a better job.

 

Third, I don't really think everyone trust uber or grab as of now. Some people will still take comfort, citycab, Smrt taxis only. Why need 800 uber new cars?

Edited April 21, 2016 by Hyruga

[Char]

This uber took 800+ Coe in april, looking at this rate, I think another 2-3 bidding for this muther fcuker to clear his 1800 Coe target.

 

And this week car show will need another few bidding. Hope no more cb pte hire companies come in and disturb

This ang mo company better F off back to US .

[Wyfitms]

Dunno why uber needs to buy so many new cars.

 

First, most people I know of are staying away from cab cos want to save money due to poorer economy. Nowadays more and more public transport and night riders.

 

Second, most uber drivers not making much money. Barely self sustainable and I believe that most will quit once they find a better job.

 

Third, I don't really think everyone trust uber or grab as of now. Some people will still take comfort, citycab, Smrt taxis only. Why need 800 uber new cars?

Can sell new cars with 80% financing leh

 

If they can sell out all, expect them to come back for more new cars

[Imac]

Uber's COEs yesterday constituted 14 per cent of total successful bids in the three categories - a disproportionately high percentage for a newcomer which entered the market barely four years ago.

---

This is a one-off, isolated event. And Uber has 780 new cars in their fleet. How many more do they need? 

http://news.asiaone.com/news/singapore/ubers-expansion-drive-changes-game-cars

 

It is reported here that they need 1,800 new car to kick start their business.

 

They got 780 COE from last 2-3 bidding exercises...going at this rate, the next 4-5 bids will continue to see Uber involvement.

 

Those would need car for will have to waiting till Sep-Oct to see lower COE.

[derron0102]

Give my personal take on this coe.

 

Based on current trend, Coe may rise or drop but it's not going to be a hard crash landing.

 

Another group of car buyers that will "stabilize" the qp are those who bought after the 2013 mas requirement for 50% downpayment. These people bought cars with Coe as high as $90+k. These group are also those with strong buying power.

 

Assuming COE do dip to below $35k constantly for a few months. That will force AD/PI to lower their car prices accordingly. This may mean these people can own a new car and face a lower yearly depreciation.

 

This will inevitably exert pressure on coe prices and push it up north, therefore "stabilizing" Coe at a certain level in the long run assuming no new gov intervention.

[flashbang]

This uber took 800+ Coe in april, looking at this rate, I think another 2-3 bidding for this muther fcuker to clear his 1800 Coe target.

 

And this week car show will need another few bidding. Hope no more cb pte hire companies come in and disturb

 

I'm surprised how ST dig out the information. Why Uber so open about their bids? Not afraid of their competitors? Or ST got some secret way of digging out the bidders?