COE Bidding - November 2023

[Kar_lover]

On 11/9/2023 at 8:12 AM, Throttle2 said:

Yeah, so thats where the huge profit margin comes into play.

+6k in the bigger scheme of things is nothing.  Try +$40k then say.

bottom line is the price within a short period can and should only defer base on the difference of the COE value tagged to the car.  

To be fair, my observation is that it usually does especially the smaller or B&B brands (u can check KIA/Hyundai price history vis a vis COE history). Of course there are exceptions, definitely 1 of the big Germans tend to up a big amount at one go. Then in subsequent bids when COE goes up they can say "COE up but our prices remain!!".

[Throttle2]

On 11/9/2023 at 8:17 AM, Kar_lover said:

To be fair, my observation is that it usually does especially the smaller or B&B brands (u can check KIA/Hyundai price history vis a vis COE history). Of course there are exceptions, definitely 1 of the big Germans tend to up a big amount at one go. Then in subsequent bids when COE goes up they can say "COE up but our prices remain!!".

End of the day.  The car is the car, the coe is something else. 

and the problem we hv is also we are not doing buyer bidding.  We are still doing dealer bidding.   
 

 

[Kar_lover]

On 11/9/2023 at 8:25 AM, Throttle2 said:

End of the day.  The car is the car, the coe is something else. 

and the problem we hv is also we are not doing buyer bidding.  We are still doing dealer bidding.   
 

 

My friend would not have benefitted from the additional $6k of COE value if he had bid himself. And I have also had similar benefit in the past myself.  

[Mkl22]

On 11/8/2023 at 10:57 PM, yishunite said:

See all the PHV stickers on those atas contis that did it for zero down... now loan big big and paper value small small 🤣

Dereg lor. Plenty dereg in 2005, 2016

[Mustank]

So many people fully paid house and houses, cars, kids already grow up,  coe where can drop?

Edited November 9, 2023 by Mustank

[Melody288]

For tesla buyers who secured their COEs at $150k, think they can cancel the deal and forfeit the $350 order fee and $10k COE deposit. Then they bid again next round, hopefully at COE price lower than $150k. 

Not sure other ADs allow this. 

[Throttle2]

On 11/9/2023 at 8:34 AM, Kar_lover said:

My friend would not have benefitted from the additional $6k of COE value if he had bid himself. And I have also had similar benefit in the past myself.  

Its about fairness both ways. 
getting rid of the element of surprise 
So you made my point .  Thanks

i am not against car dealers btw

Edited November 9, 2023 by Throttle2

[GoodCar]

Aiya, Christmas and CNY coming,

Must drop abit to create the vibe to move the market, same same wayang.

 

Let see can this price moderation continue.

[Voodooman]

On 11/9/2023 at 8:34 AM, Kar_lover said:

My friend would not have benefitted from the additional $6k of COE value if he had bid himself. And I have also had similar benefit in the past myself.  

The dealer would have buffered in COE volatility in the price. So it is not a benefit lah, the whole market is paying for it.

[Ginyu]

On 11/9/2023 at 9:38 AM, Voodooman said:

The dealer would have buffered in COE volatility in the price. So it is not a benefit lah, the whole market is paying for it.

Coe is just as volatile as crypto,both are imaginary, today 150k and another day maybe 50k, nobody can tell 🤣

[Ginyu]

On 11/9/2023 at 8:48 AM, Mustank said:

So many people fully paid house and houses, cars, kids already grow up,  coe where can drop?

Those are minority.  Majority ones are marginal car buyers. Wait for more retrenchment news,  percentage of people cannot pay monthly mortgage repayment on time start to increase and more need to force sell their house then  Coe continue  to drop further. That is the time to visit the showroom 🤣

[boonhat_91]

On 11/9/2023 at 7:29 AM, shrjun said:

Everybody enthusiastically  happy to still be paying $110k for an imaginary piece of paper 🤣

Really Uniquely SG 🤦‍♂️ $40k is objectively a significant drop and is worth celebrating, but $110k for that paper is still crazy and hope we do not accept this as the "new norm".

 

Don't forget the Motorcycle debacle in May. Who knows if this is just a 'glitch' kind of drop.

[Columbian78]

The celebration is that finally there is finally a clearer turning point in the COE price. 40k is a clear point. The keyword is turning point.

110k for a cat B is stil very high of course. Most folks who are looking to buy car within the next 1-2 year will not rush in now. Who wants to hold on to high coe?

If you are one of those who believe COE is cyclical and follow similar path as previous decades, then you are waiting for that turning point. And recent news had created a sweet ground for that. Political, economical, etc. Noone is really expecting prices to continue to drop every round from now on. I read the industry insiders coments this morning in local news, i get the sense that the trend is going down from now on.

 

[Datsun366]

Well we’ll we’ll,

As a consumer and not in the car selling industry,

I believe it a braking manoeuvre. It’s to stop the COE to rise ridiculously until car dealers are unable to make a living. Still need to pay taxes and salaries.

with rising food and other living costs I do not think cat a will go lower than 85 and cat b to go less than 110.

cars are still a luxury item when considering the price of salt, sugar and rice.

Its going to hover and maybe decline and drop 3 months before GE. Which would see a general management overall by the Govt to show they can manage.

what I do see is working vehicles will get a helping hand through other programs.

want to buy buy la. Try so hard to be clever…go earn more la.

[shinkong]

On 11/9/2023 at 11:29 AM, Columbian78 said:

The celebration is that finally there is finally a clearer turning point in the COE price. 40k is a clear point. The keyword is turning point.

110k for a cat B is stil very high of course. Most folks who are looking to buy car within the next 1-2 year will not rush in now. Who wants to hold on to high coe?

If you are one of those who believe COE is cyclical and follow similar path as previous decades, then you are waiting for that turning point. And recent news had created a sweet ground for that. Political, economical, etc. Noone is really expecting prices to continue to drop every round from now on. I read the industry insiders coments this morning in local news, i get the sense that the trend is going down from now on.

 

 

agreed this is a turning point that has been brought forward.  it should accelerate a domino effect - as more quota is brought forward and lowering the COE, more cars (between 6-<10 years) will enticed to scrap earlier -> and hence giving back more quota..... <if you know what i mean>.  this should go on until it hits a peak (could be around 2026), which by then government will start to claw back.  in summary, could be best period to change new rides between 2024-2026.  just my thoughts.

 

 

 

Edited November 9, 2023 by shinkong
.

[Throttle2]

No different from the Property Market lah…..

wahahahahaha

just dont be the one that kena caught with pants down at a high price

[Jamesc]

Manipulation is such a terrible word.

But COE can be controlled.

If they give out a million COEs tomorrow I guarantee the price will come down. 

If they cut COE by half tomorrow I guarantee the price will shoot up.

 

But this not manipulation its economics.

Edited November 9, 2023 by Jamesc

[Mockngbrd]

On 11/9/2023 at 11:29 AM, Columbian78 said:

The celebration is that finally there is finally a clearer turning point in the COE price. 40k is a clear point. The keyword is turning point.

110k for a cat B is stil very high of course. Most folks who are looking to buy car within the next 1-2 year will not rush in now. Who wants to hold on to high coe?

If you are one of those who believe COE is cyclical and follow similar path as previous decades, then you are waiting for that turning point. And recent news had created a sweet ground for that. Political, economical, etc. Noone is really expecting prices to continue to drop every round from now on. I read the industry insiders coments this morning in local news, i get the sense that the trend is going down from now on.

 

wait see next one lo, wait soot back up to 140k