COE Bidding – May 2024

[VWenthusiast]

@metalstream bro i think too optimistic le.. in Q4'23 its 8244 deregistrations and COE still so high

[VWenthusiast]

@metalstream plus some of these additional quotas already brought forward coz of the "cut and fill" approach i think

[Fellows]

On 5/12/2024 at 10:12 AM, metalstream said:

General Elections on the way in 2024 and news also reported sky high deregistration in Q1 2024. Subtle hint of higher COE quota coming up.

Can look forward to $3,002 COE just like when it first started in May 1990. 😁

https://www.straitstimes.com/singapore/transport/car-deregistrations-in-q1-2024-highest-in-nearly-three-years

You must be just waking up from dream land. $3002 🤣🤣🤣

If manage to maintain CAT A at around $40K to $60K, CAT B at around $60K to $80K range in today market and buying power very good liao. 

Unlikely to go down back to 2014-2016 era kind of price, aka before Covid-19 price range as the market dynamic has change post Covid-19.

Maybe during sensitive period, buy people's hearts and minds with the give chicken wings, take buy whole chicken tactics to be use once again to somehow drop the price, who knows. 

Edited May 12 by Fellows

[Didu]

On 5/12/2024 at 11:21 AM, metalstream said:

Obviously current supply is unable to meet demand, when half the bids are from commercial entities like private hire and car rentals. Even a three year old knows that.  

Situation is worse now as these 50% of bids are essentially taxis, and they travel much more than private cars. 

Notice nothing is done on this? Obviously a cash cow reaping the rewards in petrol excise duty. Last time taxis run on diesel. Now the new age taxis run on petrol.

LTA announces removal of Taxi's from COE bidding process

Dated : 28 Jul 2012

https://www.sgcarmart.com/articles/news/lta-announces-removal-of-taxis-from-coe-bidding-process-8397

[Sdf4786k]

On 5/12/2024 at 12:27 PM, metalstream said:

Because if everyone think like you, that $40K to $80K is reasonable range, then GG. COE will remain at this range. 🥲

It will only change if they add more taxes to ICE cars to encourage a shift to EV and car lite 

else increase scrap value of cat A to 20k and cat B to 30k to increase the speed of renewal 

Edited May 12 by Sdf4786k

[Mkl22]

On 5/10/2024 at 9:31 PM, Vratenza said:

That's one of the modern car industry mystery that I can never understand.... 

Previously, metallic/mica range of colours might have additional surcharge if you buy the car from AD. Cos these are premium paints. 

Elon musk kiam kanna theory. But then jap pearl white cost more than the basic colors. Not all whites are the same. 😁

Edited May 12 by Mkl22

[Mkl22]

On 5/12/2024 at 12:27 PM, metalstream said:

Because if everyone think like you, that $40K to $80K is reasonable range, then GG. COE will remain at this range. 🥲

It’s a bidding system with IC so either suck it up and pay or give up. As much as I dislike the high amount. The fact is someone else is richer than you. 

[thebestbees]

@Sdf4786k government decided to add $700 per EV for road tax as additional flat component because of loss of petrol tax instead 🤣

[thebestbees]

@Mkl22 I wonder how the coe prices will be like if they allow car buyers to bid directly 

[Mkl22]

On 5/12/2024 at 1:09 PM, thebestbees said:

@Mkl22 I wonder how the coe prices will be like if they allow car buyers to bid directly 

Since day 1 it was allowed

[inlinesix]

On 5/12/2024 at 1:09 PM, thebestbees said:

@Mkl22 I wonder how the coe prices will be like if they allow car buyers to bid directly 

Rather, what COE price would be if SingPass bidding only

[Ct3833]

On 5/12/2024 at 1:25 PM, Mkl22 said:

Since day 1 it was allowed

Obviously he meant to say allow ONLY buyers to bid for their own COE

[Mkl22]

Actually I see no diff. You signed the papers for coe bidding and agree to the price. Self bidding just shifts the process. Doesn’t mean the price will be cheaper. Pay as you bid will probably bring prices down. 

[Ct3833]

On 5/12/2024 at 1:09 PM, thebestbees said:

@Mkl22 I wonder how the coe prices will be like if they allow car buyers to bid directly 

Only allow buyers to bid for their own  COE  and must pay cash, no loan 😁  , COE gurantee and chop sure drop 

Edited May 12 by Ct3833

[Ct3833]

On 5/12/2024 at 1:46 PM, Mkl22 said:

Actually I see no diff. You signed the papers for coe bidding and agree to the price. Self bidding just shifts the process. Doesn’t mean the price will be cheaper. Pay as you bid will probably bring prices down. 

Difference is one just have to sign off paper, the other one is to bid for own COE, must have 10k in the bank account when bidding, and the buyer press off the money he intends to pay, he will feel very painful when deciding the amount to bid for .

If LTA allows only buyers to bid for COE and price still high , then we only have ourselves to be blamed 

Edited May 12 by Ct3833

[Mkl22]

On 5/12/2024 at 1:46 PM, Ct3833 said:

Only allow buyers to bid for their own  COE  and must pay cash, no loan 😁  , COE gurantee and chop sure drop 

 Might work, till some wise ass some how manages to come up with a way to give loan. 

[Freeder]

On 5/12/2024 at 10:12 AM, metalstream said:

General Elections on the way in 2024 and news also reported sky high deregistration in Q1 2024. Subtle hint of higher COE quota coming up.

Can look forward to $3,002 COE just like when it first started in May 1990. 😁

https://www.straitstimes.com/singapore/transport/car-deregistrations-in-q1-2024-highest-in-nearly-three-years

Though 3002 COE will not be here soon but read your post also sibei shiok 😅

[VWenthusiast]

@metalstream Why would they incur the wrath when its on a willing buyer willing seller basis - people are willing to pay the current COE prices...