COE Bidding – April 2023

[Freeder]

On 4/5/2023 at 4:07 PM, Jamesc said:

Cat D  MOTORCYCLE    $11,089 466   474

Bike quota 466 and bidders 474

If it wasn't for the last minute 8 bids

we can all ride bikes for just $1 COE.

Cheaper than Simi Ang's chye png

Heard from my dealer frd that if the motorcycle dealers chut some more stunts, LTA will also chut more complicated stunts..alas LL bid lor..😂

[Alfc]

Dun say no car not affected.

Those non-car owners who enjoy taking grab (and other forms of pte hire and car sharing) are helping to foot the COE bill. 

Just like the landlord who happily pass on higher interest/installment to tenants via rental.

[inlinesix]

On 4/5/2023 at 4:39 PM, Philipkee said:

Actually I was thinking why can't dealers bid for COE before importing the car.

So let's say Toyota bid for COE. 100 COE.  10 Altis.and 90 Vios.  They tie the Coe to the cars.  Then they import them.  So they MUST sell the cars within 6 months before they forfeit the COE.

So whatever price the Toyota advertise will be the confirmed price cos Coe has already been obtained plus there will be the urgency to sell the car lest the COE get forfeited.  So they won't overbid....

Dealers don't import the car.

On the other hand, importers has a target to meet.

[Philipkee]

On 4/5/2023 at 5:01 PM, inlinesix said:

Dealers don't import the car.

On the other hand, importers has a target to meet.

I always thought like let's say KMC will import the Hyundai car from South Korea.

[Confusedboi]

On 4/5/2023 at 4:12 PM, Fcw75 said:

Point of no return liao.

Breaching 100K for Cat A.

Godspeed Singapore!

the gap between CAT A and B is getting narrower..., grab prices going to increase further and so will other phv rides costs as well.

other than PHV companies buying up vezels/ sientas/ prius/freeds and other phv models, still got people buy b and b cars from the japs or koreans?, or is it the entry level germans that fall into CAT A that make up these figures like bmw 116/216,  mercs A180, and audi A3

[Benarsenal]

On 4/5/2023 at 4:09 PM, 13177 said:

Still no 100k.😅

Soon, soon 😁

[Benarsenal]

On 4/5/2023 at 4:10 PM, Jamesc said:

Cat B and Open Cat at $117,000

Open Cat is essentially Car B.

Not sure anyone will bid Open Cat and use it for a motorcycle!

Cat E cannot use for motorcycle

[Benarsenal]

On 4/5/2023 at 4:27 PM, Philipkee said:

A solution would be buyers must self bid Coe and then go to car dealer with a Coe and then buy the car. 

But this would lower down Coe so probably not something the Lta would want.

That was the original intent of COE.

The fact that LTA allows the system to become what it is today shows how 'serious' they are in using COE as a mechanism to control cars.

[Benarsenal]

On 4/5/2023 at 4:39 PM, Philipkee said:

Actually I was thinking why can't dealers bid for COE before importing the car.

So let's say Toyota bid for COE. 100 COE.  10 Altis.and 90 Vios.  They tie the Coe to the cars.  Then they import them.  So they MUST sell the cars within 6 months before they forfeit the COE.

So whatever price the Toyota advertise will be the confirmed price cos Coe has already been obtained plus there will be the urgency to sell the car lest the COE get forfeited.  So they won't overbid....

Not really workable, cos if they end up desperate to sell they will start to lelong, which is what Govt won't want.

The whole point if that Govt don't want people to buy cars in the first place, so will put in every measure (short of banning) to discourage people to buy cars.

Edited April 5, 2023 by Benarsenal

[Mustank]

On 4/4/2023 at 8:50 PM, Tianmo said:

COE above 80k, KNN

Coe 50k to 79999, Diu

Coe 30k to 49999, KNN Diu

Coe 10k to 29999, KNNBCCB 

Coe 1k to 9999, KNNBCCB DLLM

Coe 2 to 999, errrr wake up wake up!

Diu finish, ownself still go inside the car shop take out wallet buy 

Spoiler

😬

 

[Kranjipioneer]

On 4/5/2023 at 4:04 PM, Jamesc said:

Who went in and last minute bid on bikes?

We could have had it at $1

if it wasn't for the selfish individual.

Perhaps the works of "invisible hands".

[Fitmugen]

If I’m gahmen, I will implement 5-year COEs. Sure can rake in even more money 😃😃

[jasonboh]

I honestly wonder who are the ones buying these COE. Most Singaporeans will not want to sign new cars at this new COE price. 

LTA shared that of the COEs allocated from July 2020 to December 2022, on average about 63% were allocated to Singaporeans or PRs, and less than 3% were allocated to foreigners. The remaining % allocated to companies. That means at least 34% were allocated to PHVs. I think this number will continue rising as only these organizations can blindly bid for the COEs with their funds. 

[Forsei]

But far the most sensible comment. Indeed the commercials are eating up our (truly private vehicle drivers) coe's and literally driving up prices! Lta should limit this activity

[13177]

On 4/5/2023 at 8:25 PM, jasonboh said:

I honestly wonder who are the ones buying these COE. Most Singaporeans will not want to sign new cars at this new COE price. 

LTA shared that of the COEs allocated from July 2020 to December 2022, on average about 63% were allocated to Singaporeans or PRs, and less than 3% were allocated to foreigners. The remaining % allocated to companies. That means at least 34% were allocated to PHVs. I think this number will continue rising as only these organizations can blindly bid for the COEs with their funds. 

LTA dont care who is buying these COE and how high COE is lo. 🙄

[Tianmo]

On 4/5/2023 at 2:16 AM, Benarsenal said:

Recession only affect poor. Rich people are immune, will still buy cars.

the way I look at it, the lower income grp is more affected by inflation than recession. It is those over stretched middle income grp who is affected most by recession. In my definition, lower income may not be poor, and a higher bracket of a middle income may not be better off.  It depends on how vulnerable they are to inflation and recession. That is one reason we see some look good middle incomes are always more worry of recession than inflation. 

[Fitmugen]

No way gahmen will limit COE quota available for PHV companies to bid. If PHV companies pay more, they will have to charge more to their customers, who are far greater in numbers (ie. voters), as compared to aspiring car owners. Gahmen would rather make a smaller group of people unhappy.

And let’s get real also. In Singapore, how hard is it to get around? Bus, train, grab are all so convenient. And for car buyers - if you can afford a Camry/harrier at 50k COE, you can afford to buy a Vios at 100k COE. It’s just a matter of downsizing. And if you can only afford a Vios at 50k COE, gahmen wants you to forgo car ownership.

so from the gahmen’s point of view, there is really nothing wrong with the COE system 😃😃😃

[Tianmo]

On 4/5/2023 at 8:12 AM, Ingenius said:

Beside economic factors, other factors like major world affairs can cause coe to nosedive, such as war between china and Taiwan, nuclear war in Europe and a major bank collapse. The effect will be unpredictable though. 

COE is really quite unique to SG, in fact it has almost no connection to basic economic factors. 

Other than the many Family offices coming to SG, Car Lite policy and PHV form a big part pushing up COE.  

There is a big different between buying it for own use ( non income generating), and buying it as an occupation tool ( income generating). The former may be more sensitive to price, while time is more important to the later. There are 3 full time PHV drivers i know around my estate, 2 of them just changed to a brand new car. I spoke to one of them, and he told me the different is not much if you break in down through the loan period. Cheaper than renting, more comfortable, lesser wear and tear ( means more time on the road) and the car is yours. 

If you can generate more income than the extra cost, the increase in price becomes less sensitive, it is when the car produce nothing besides convenience, that COE price become an issue.