COE Bidding - March 2024

[mersaylee]

On 3/21/2024 at 1:31 PM, L23 said:

@Meerkat Who tell u so? 

The erection drum have been sounding for the longest time since late last year...

Recent rumour is coe ai toh liao 😁

[Mkl22]

On 3/21/2024 at 2:09 PM, mersaylee said:

Recent rumour is coe ai toh liao 😁

price toh or quota toh or whole coe scheme toh.... say properly ley!!!

[mersaylee]

On 3/21/2024 at 4:32 PM, Mkl22 said:

price toh or quota toh or whole coe scheme toh.... say properly ley!!!

Suma sama 龙中 toh 😅

[Benarsenal]

Up down up down up up down

[jogger]

Hi all! Shall share my journey here as well for awareness.

I booked an Atto 3 with EA during the Thompson road show. $142888, 8 bids NG. Went through 2 rounds of bidding so far.

BYD bidded (2nd time) 46k for me on 20 Mar. Tbh I thought this was a waste of time but I guess they did it to honour their commitment. My SE has been silent so far, didn't ask me to top up.

6 more bids to go. I am not in a rush to get the car, but I may just go for MG after taking back my deposit. 

 

[jogger]

@Meerkat You bought from which AD?

Edited March 21 by jogger

[jogger]

On 3/21/2024 at 12:01 PM, Meerkat said:

@t0y0ta I am interested to see how it plays out - my first time buying a new car and I opted for the 8 NG bid for the BYD. I've got 2 bids remaining so let's see who folds first! Just checked out MG and they're offering $144K Guaranteed 6 bids for the Cat A. I'd rather do that than top up around $15K for the BYD. 

exactly! I was actually considering between MG ZS and Atto 3. Eventually fell for Atto 3 for the size and technology. But price wise, MG ZS is much cheaper. I guess if I cannot secure COE with another 6 bids NG, I think it's fated for me to get MG ZS haha.

[Meerkat]

@jogger vantage

[Meerkat]

@jogger yes, I'm hoping by the time my bids run out that MG is still gonna hold their pricing. So maybe there will be more MG than BYD in a few months! 

[jogger]

On 3/21/2024 at 6:10 PM, Meerkat said:

@jogger yes, I'm hoping by the time my bids run out that MG is still gonna hold their pricing. So maybe there will be more MG than BYD in a few months! 

Haha I think unlikely. But MG will definitely keep their price down given how popular Atto is. Well, I still got 3 more months to go...

[Benarsenal]

Few more months got many more China-brand cars for you to choose from. 😎

[Meerkat]

@Benarsenal any recco which ones have a decent performance based on how they're doing in China? I'm new to the EV scene and even newer to Chinese cars... 

[Benarsenal]

On 3/21/2024 at 9:39 PM, Meerkat said:

@Benarsenal any recco which ones have a decent performance based on how they're doing in China? I'm new to the EV scene and even newer to Chinese cars... 

China is very big leh. Brands perform differently based on region, and lower end brands are popular in those lesser developed tier 3 or below cities.

Generally though, of the ones coming or already here, the higher reputation ones are Xpeng, Zeekr (from Geely), BYD, Ora, Chery (who will introduce sub-brand models like Omoda here).

The rest like Aion, Seres, Neta are smaller and less well-known.

Then there are those half/half brands like MG and Smart (and Polestar). Made in China but with significant Western input.

 

Edited March 21 by Benarsenal

[jogger]

On 3/21/2024 at 9:39 PM, Meerkat said:

@Benarsenal any recco which ones have a decent performance based on how they're doing in China? I'm new to the EV scene and even newer to Chinese cars... 

https://www.straitstimes.com/singapore/chinese-ev-brand-xpeng-to-be-launched-in-singapore-by-second-half-of-2024

I found this article to be useful. Indeed more Chinese EV makers are entering Singapore market. 

Hopefully with more players in the market to compete with BYD, there will be more options for car buyers. That'll bring down the demand for BYD and hopefully they have an over supply and thus reducing profit margin and bid higher COE for savers package.

Edited March 21 by jogger

[Sdf4786k]

On 3/21/2024 at 11:47 AM, Meerkat said:

@paul1307  Same boat. Got the 8 NG bid with BYD and they also asked if I want to top up. Will they refund all the car show deposits? They have not dropped their pricing on their site since the car show, it is hovering around the same rebate for Cat A COE so I wonder what their strategy is. If it is to hold off for as long as they can then this is not going well for them because the COE is going up. If I get my deposit back soon I will have a look at the MG ... 

MG not too bad .. cheap n good

[Vratenza]

On 3/22/2024 at 7:14 AM, jogger said:

https://www.straitstimes.com/singapore/chinese-ev-brand-xpeng-to-be-launched-in-singapore-by-second-half-of-2024

I found this article to be useful. Indeed more Chinese EV makers are entering Singapore market. 

Hopefully with more players in the market to compete with BYD, there will be more options for car buyers. That'll bring down the demand for BYD and hopefully they have an over supply and thus reducing profit margin and bid higher COE for savers package.

your time horizon should be the next 1-2yrs to see any of the effect....

I happened to see Zeekr posting job ad employing manager to run the local distribution....it will take time

[Throttle2]

So those who paid $120 for Cat A, then how?

 

muayhhahhahhhaahhhahhahha

[Vratenza]

On 3/22/2024 at 5:24 PM, Throttle2 said:

So those who paid $120 for Cat A, then how?

 

muayhhahhahhhaahhhahhahha

I am more intrigued with what happens to Cat A EVs bought during >100k with close to zero body value (EV rebates). 

When Cat A COE drops below 50k....and PRC EVs flooding the market to grab market share from Tesla, these owners will scrap their EVs to cut loss on their depre? Or they will resell in the 2nd hand market hoping some stupid car dealer unsuspecting private buyer will take in at a good price?