COE Bidding - November 2023

[Theoldjaffa]

On 11/22/2023 at 4:07 PM, Benarsenal said:

Cat A drop some more. Interesting.

I think, word on the ground, is a lot of dealers don't have stock for the year any more. So seems like they won't bother bidding. Most of the demand could be from fleets to register existing inventory.

Tesla is trying to make as many deliveries of the Highland before 31 Dec, so maybe they are helping the buyers to bid for the Cat E to keep first and then use it to register when the car arrives.

[Benarsenal]

On 11/22/2023 at 5:34 PM, Theoldjaffa said:

Tesla is trying to make as many deliveries of the Highland before 31 Dec, so maybe they are helping the buyers to bid for the Cat E to keep first and then use it to register when the car arrives.

Possibly.

But I'm also thinking, companies like LCR, Lumens, BlueSG, they have the capability to buy cars first without registering, and hold on to the stock. Then bid for COE accordingly when they need to put it on the road.

If there is no need then they will just hold on to the stock until the appropriate time. After all, they have the financial capability, and depreciation does not hit them as hard compared to the private buyer since they can mostly recoup back from the rental business.

[Volvobrick]

On 11/22/2023 at 4:41 PM, Fcw75 said:

Not forgetting now COE can be lump together with the car price and then take a loan.

LTA should make people pay full amount for COE first.

Ha ha! Who would in their right mind destroy their own income stream and kill the goose laying the golden eggs? 

LTA people may be incompetent, ignorant, laid back, but not so stupid one! 

Edited November 22, 2023 by Volvobrick

[Kar_lover]

On 11/22/2023 at 5:13 PM, Fcw75 said:

Yes, I saw. What’s the interest?

Don't know and don't care cos I never renew COE one lol.... My point is these type of simple restrictions can be easily beaten. Not only COE loan (eg special low rate when u take up a new car loan with us!) but overtrade as well. Businesses will always find a way to thrive. That is the nature of businesses. Those that can't die out and only the fittest remain.

[Philipkee]

On 11/22/2023 at 5:12 PM, Fcw75 said:

Which showroom have you been eating biscuits and drinking coffee?

Better not say.  Later @Jamesctell his friends

[Kar_lover]

One of the constant complains is how luxury brands are bringing Cat A cars in (GLB180, X1, 216 AT, etc) LTA says they can't tag COE to OMV due to fluctuations in OMV due to forex. Actually all they need to do is use a rolling 3 month average OMV for a given car to determine the effective OMV of the car at the point of COE bidding. Then set Cat A as not more than $18,000 OMV. Don't think got luxury brand that can cut enough corners to be less than that. Even entry level Jap/Korean car also more than this now.

[Lethalstrike]

This kind of bulls**t bidding results further reinforces what I've written a few days back. The entire system is subjected to the whims and fancy of the big players. 

Next round CAT A COE will spike back up again, you've read it here first 😆

[Jamesc]

On 11/22/2023 at 6:07 PM, Philipkee said:

Better not say.  Later @Jamesctell his friends

Its ok I welcome you to my showroom!

You come for the free coffee and biscuits and fell love with the new City

and immediately sign on the dotted line!

I like this kind of customers!

I see, I like, I buy!

Not the think and think and think kind! I cannot stand those kind!

[Volvobrick]

On 11/22/2023 at 6:12 PM, Lethalstrike said:

This kind of bulls**t bidding results further reinforces what I've written a few days back. The entire system is subjected to the whims and fancy of the big players. 

Next round CAT A COE will spike back up again, you've read it here first 😆

The biggest player is the gahmen. They can suka suka increase/decrease/delay coe numbers. Relax/tighten rules. 

[Kar_lover]

On 11/22/2023 at 6:12 PM, Lethalstrike said:

This kind of bulls**t bidding results further reinforces what I've written a few days back. The entire system is subjected to the whims and fancy of the big players. 

Next round CAT A COE will spike back up again, you've read it here first 😆

Nothing surprising when that happens right? What was surprising was that not only further drop but by another 10k. But but but .... If is really due to no selling stock then may not go further up unless they sell next year's delivery which may face the decreased VES.

LTA might step in and move some Cat A to Cat B since the gap now so big? As what they say, the cut (Cat A) and fill (Cat B) approach.

[Juzcanon]

November 2023 COE Results 2nd Bidding: Cat A dropped further to close at $85,001, Cat B rebounded to $135,336, Cat C dipped a bit to close at $73,889, Cat D remained stable and closed at $10,001, while Cat E increased to $135,002

Commenting on these COE results, Ron Lim, head of sales and marketing at Nissan authorised agent Tan Chong Motor, told Motorist: “It’s obvious Cat A COE was supported by bids coming in last 10 minutes, which amounted to over 600 bids. Not even sure if there is enough stock in the market to utilise these COEs within this year. For Cat B, there are around 400 bids that the market was not expecting. Chances are, these are not from dealers as no one will have $25k margins to push COE so high. It must be commercial demand behind this push. It’s too glaring to attribute it to retail demand.”

https://www.motorist.sg/article/2411/november-2023-coe-results-2nd-bidding-cat-a-dropped-further-to-close-at-85-001-cat-b-rebounded-to-135-336-cat-c-dipped-a-bit-to-close-at-73-889-cat-d-remained-stable-and-closed-at-10-001-while-cat-e-increased-to-135-002

 

[thebestbees]

@Theoldjaffa 

On 11/22/2023 at 5:34 PM, Theoldjaffa said:

Tesla is trying to make as many deliveries of the Highland before 31 Dec, so maybe they are helping the buyers to bid for the Cat E to keep first and then use it to register when the car arrives.

i think it’s more of those rental fleets who are just “ blindly “ whacking those Noah, Voxy  and alphard 

[thebestbees]

On 11/22/2023 at 6:50 PM, Juzcanon said:

November 2023 COE Results 2nd Bidding: Cat A dropped further to close at $85,001, Cat B rebounded to $135,336, Cat C dipped a bit to close at $73,889, Cat D remained stable and closed at $10,001, while Cat E increased to $135,002

Commenting on these COE results, Ron Lim, head of sales and marketing at Nissan authorised agent Tan Chong Motor, told Motorist: “It’s obvious Cat A COE was supported by bids coming in last 10 minutes, which amounted to over 600 bids. Not even sure if there is enough stock in the market to utilise these COEs within this year. For Cat B, there are around 400 bids that the market was not expecting. Chances are, these are not from dealers as no one will have $25k margins to push COE so high. It must be commercial demand behind this push. It’s too glaring to attribute it to retail demand.”

https://www.motorist.sg/article/2411/november-2023-coe-results-2nd-bidding-cat-a-dropped-further-to-close-at-85-001-cat-b-rebounded-to-135-336-cat-c-dipped-a-bit-to-close-at-73-889-cat-d-remained-stable-and-closed-at-10-001-while-cat-e-increased-to-135-002

 

don’t tell that to the government and the acting transport minister as he doesn’t believe that those rental companies are pushing up the prices ! 🤣

[Fcw75]

On 11/22/2023 at 6:50 PM, Juzcanon said:

November 2023 COE Results 2nd Bidding: Cat A dropped further to close at $85,001, Cat B rebounded to $135,336, Cat C dipped a bit to close at $73,889, Cat D remained stable and closed at $10,001, while Cat E increased to $135,002

Commenting on these COE results, Ron Lim, head of sales and marketing at Nissan authorised agent Tan Chong Motor, told Motorist: “It’s obvious Cat A COE was supported by bids coming in last 10 minutes, which amounted to over 600 bids. Not even sure if there is enough stock in the market to utilise these COEs within this year. For Cat B, there are around 400 bids that the market was not expecting. Chances are, these are not from dealers as no one will have $25k margins to push COE so high. It must be commercial demand behind this push. It’s too glaring to attribute it to retail demand.”

https://www.motorist.sg/article/2411/november-2023-coe-results-2nd-bidding-cat-a-dropped-further-to-close-at-85-001-cat-b-rebounded-to-135-336-cat-c-dipped-a-bit-to-close-at-73-889-cat-d-remained-stable-and-closed-at-10-001-while-cat-e-increased-to-135-002

 

LTA monitoring closely.

[Confusedboi]

85k COE still very high compared to just 1 or 2 years back😓. In the mean time shall just stick to COE van in the virtual world.

[Mockngbrd]

On 11/22/2023 at 6:01 PM, Kar_lover said:

Don't know and don't care cos I never renew COE one lol.... My point is these type of simple restrictions can be easily beaten. Not only COE loan (eg special low rate when u take up a new car loan with us!) but overtrade as well. Businesses will always find a way to thrive. That is the nature of businesses. Those that can't die out and only the fittest remain.

Usually between 3.5-5%

[13177]

On 11/22/2023 at 6:12 PM, Lethalstrike said:

This kind of bulls**t bidding results further reinforces what I've written a few days back. The entire system is subjected to the whims and fancy of the big players. 

Next round CAT A COE will spike back up again, you've read it here first 😆

If Cat A coe continues to drop in next round bidding, either something must be very wrong or the effect of extra coe quota really works. 😂

[Kar_lover]

On 11/22/2023 at 11:49 PM, 13177 said:

If Cat A coe continues to drop in next round bidding, either something must be very wrong or the effect of extra coe quota really works. 😂

I would say it's due to no stock for this year delivery. ADs should price for the addtional $10k reduced VES next year and start selling the Jan deliveries. At least the $20k drop in COE will make up for the additional $10k and still can make it for CNY.