COE Bidding - November 2023

[Philipkee]

On 11/8/2023 at 10:32 PM, Philipkee said:

I just need two more cycles like this before I change cars.  Means coe drop another 80k.  

Drop another 70k more and I buy a car.

[Fcw75]

On 11/24/2023 at 11:14 AM, Philipkee said:

Drop another 70k more and I buy a car.

Talk to Mr Tan first. 

[mersaylee]

Garment often thru the you know who media and ask the same old fellows about their views...macam very open to gather public opinion liddat...rubbish from the same mouth piece got use meh? Really genuine feedback or doing the n service...? Seen enuf...until we do something about it...still too cloudy ...need more blue sky to see betterer...😁

[Mkl22]

On 11/24/2023 at 5:31 AM, Kar_lover said:

I don't believe in slamming govt just for the sake of it. For my industry, the govt agency in charge does have regular engagement with us. I am in one of their focus groups to give suggestions on how to improve specific areas which i am in charge of in my company. The Minister (full Minister, not MOS) even came for a meeting at my office together with the CEO and DCEO and other heads of the agency to discuss issues and ideas with my CEO and top Management.

But yes, in this case, maybe LTA missed something or had no time to engage the industry players to find out the situation first. Maybe they expected that ADs will always have stock. 

I only slam LTA cause they are incompetent! Have been and still are. 

[Fcw75]

On 11/24/2023 at 11:39 AM, mersaylee said:

Garment often thru the you know who media and ask the same old fellows about their views...macam very open to gather public opinion liddat...rubbish from the same mouth piece got use meh? Really genuine feedback or doing the n service...? Seen enuf...until we do something about it...still too cloudy ...need more blue sky to see betterer...😁

Ya lor, ask them come MCF to listen ma.

We will give them no holds barred views, not sugar coated too.

[Mkl22]

On 11/24/2023 at 8:41 AM, Philipkee said:

Why they don’t throw 200k at the outset because they want to know what is the coe reserve price first.  Later they throw in 200k thinking they don’t need to actually pay that amount and it turns out to be the reserve price?  So they wait till the last minute.

My point is they are willing to throw in 30x 200k bids cos they want to secure the coe but don’t expect to actually have to pay that amount.  Unless it becomes a pay what you bid for system, this will continue.

Can easily implement pay as your bid for open cat as a trial for 6mths. See whos balls is big to bid high. 
Always listen to professors who say doesn’t make a difference but what do these academics know. 
In a perfect world maybe they are right. But don’t try, don’t know. 
so many instances of LTA and academics getting snooked by businessmen/ car dealers. LTA still thinks they know better? 

Edited November 24, 2023 by Mkl22

[Mkl22]

If LTA was so good, the debacle of almost $0.6B of ERP2 wouldn’t have happened. 
Land transport is one area Singapore still cannot get its shit together. 
we are successful with changi and PSA. 
and I’m very proud of the achievements of changi. 
in case supporters of LTA come in to say that land transport is very complex and many facets.

Please……. Changi and PSA have to compete against world for the survival  of the country. LTA only competes against itself to provide decent standards for the resident population. Very difficult meh? 

Edited November 24, 2023 by Mkl22

[Ct3833]

On 11/24/2023 at 11:02 AM, boonhat_91 said:

not time to celebrate yet, as someone mention recently, 85k could once get a whole car PLUS cat A coe

Was just joking . But seriously, the days of 85k can buy a whole  cat A car will  not  likely to happen again. COE wont go to the level of 30k any more, 50k  will be more realistic. I can be wrong though.

[Fcw75]

On 11/24/2023 at 12:59 PM, Ct3833 said:

Was just joking . But seriously, the days of 85k can buy a whole  cat A car will  not  likely to happen again. COE wont go to the level of 30k any more, 50k  will be more realistic. I can be wrong though.

I would like to quote MJ 🤪

2 years back if you tell your friend ‘eh bro, Cat B COE in 2023 will be $150K’…he will say ‘you siao ah!’ 🤣

Edited November 24, 2023 by Fcw75

[Mkl22]

On 11/24/2023 at 10:35 AM, Fcw75 said:

I would like to quote MJ 🤪

2 years back if you tell your friend ‘eh bro, Cat B COE in 2023 will be $150K’…he will say ‘you siao ah!’ 🤣

No. I predicted it will happen and will still happen going forward. I renew my previous coe Mercedes in 4/2019 ahead of its 12/2022 coe expiry exactly due to this reason. Alas I failed to predict COVID as 4/2020 coe dropped back to the same prices. 
 

the lean coe quota supply years are around 2010-2014, 2020-2024, 2030-2034 and so on…… doesn’t take a genius to know this. 
but if money no object then who cares. 

Edited November 24, 2023 by Mkl22

[jcmm]

On 11/24/2023 at 12:53 PM, Mkl22 said:

If LTA was so good, the debacle of almost $0.6B of ERP2 wouldn’t have happened. 
Land transport is one area Singapore still cannot get its shit together. 
we are successful with changi and PSA. 
and I’m very proud of the achievements of changi. 
in case supporters of LTA come in to say that land transport is very complex and many facets.

Please……. Changi and PSA have to compete against world for the survival  of the country. LTA only competes against itself to provide decent standards for the resident population. Very difficult meh? 

Comfort, bonuses, no competition/benchmark ....   

Edited November 24, 2023 by jcmm

[Fcw75]

On 11/24/2023 at 1:34 PM, Mkl22 said:

No. I predicted it will happen and will still happen going forward. I renew my previous coe Mercedes in 4/2019 ahead of its 12/2022 coe expiry exactly due to this reason. Alas I failed to predict COVID as 4/2020 coe dropped back to the same prices. 
 

the lean coe quota supply years are around 2010-2014, 2020-2024, 2030-2034 and so on…… doesn’t take a genius to know this. 
but if money no object then who cares. 

Never share share 😒🤣

[Mkl22]

And the 2031-2033 will be further exacerbated as majority of these coes will not live out their 10year cycle. Majority will be scrapped come 2025-2029 when the quota increases and causes the prices to come down. 
unless it’s a sentimental car, one would be better off scrapping to reclaim the balance coe and buy a new car than to continue holding on to a 150k coe for 10years.
So the quota supply in 2025-2029 will be boosted by the 2021-2023 early scrap and the 2031-2033 supply will shrink further. The feast and famine cycle will return with a vengeance. If LTA cannot see this then they are absolutely hopeless. But I’m sure they know but lack a foresight to change anything. 

Edited November 24, 2023 by Mkl22

[Beehive3783]

On 11/23/2023 at 3:17 PM, Lethalstrike said:

The latest round of Cat A COE is still oversubscribed against the quota, but yet drop $10k. 

Last round Cat B COE was oversubscribed but dropped $40k out of nothing. 

All I can say is its up to the higher powers behind to the scene to bid it up or bid it down, nothing to do with the normal demand/supply BS explanation by PAP/LTA 

Maybe ministers wanna change car la  

[Mkl22]

On 11/24/2023 at 12:16 PM, Beehive3783 said:

Maybe ministers wanna change car la  

$40000/$1000000+ is for sure not more than 4%. Then you add MP allowance and SMLJ sitting on whatever board. Maybe just 2% of their annual. Chum change

[Mockngbrd]

On 11/24/2023 at 2:05 PM, Mkl22 said:

And the 2031-2033 will be further exacerbated as majority of these coes will not live out their 10year cycle. Majority will be scrapped come 2025-2029 when the quota increases and causes the prices to come down. 
unless it’s a sentimental car, one would be better off scrapping to reclaim the balance coe and buy a new car than to continue holding on to a 150k coe for 10years.
So the quota supply in 2025-2029 will be boosted by the 2021-2023 early scrap and the 2031-2033 supply will shrink further. The feast and famine cycle will return with a vengeance. If LTA cannot see this then they are absolutely hopeless. But I’m sure they know but lack a foresight to change anything. 

They know, hence they took away the supply from future years and spread out to keep COE 100k+ huat huat throughout. 

[Beehive3783]

On 11/24/2023 at 2:51 PM, Mkl22 said:

$40000/$1000000+ is for sure not more than 4%. Then you add MP allowance and SMLJ sitting on whatever board. Maybe just 2% of their annual. Chum change

They'll take it, even if it's not more than 4%  

[Fcw75]

On 11/24/2023 at 1:34 PM, Mkl22 said:

No. I predicted it will happen and will still happen going forward. I renew my previous coe Mercedes in 4/2019 ahead of its 12/2022 coe expiry exactly due to this reason. Alas I failed to predict COVID as 4/2020 coe dropped back to the same prices. 
 

the lean coe quota supply years are around 2010-2014, 2020-2024, 2030-2034 and so on…… doesn’t take a genius to know this. 
but if money no object then who cares. 

But the cut-and-fill approach is going to disrupt the cycle right?