COE Bidding - November 2024

[epigram]

On 11/8/2024 at 10:10 AM, Arogab said:

where is the logic?

the logic is that the dealers will ask what the market can bear. it is clear from LTA data that some dealers mark up 5-20k from basic cost; others mark up 50k-150k.

some people may begrude the dealers their mark-up. others don't. so the dealers will sell to those others. if the market generally rejects the mark up, then for sure the mark up will reduce.

in similar vein to my comment on suspension of logic, there are those that believe that the dealers should sell at basic cost or less. any dealer that does so will not be around for long to do so since it's clearly loss-making. because guess what, their staff need their wages to increase year-on-year.

[boonhat_91]

On 11/7/2024 at 1:56 AM, jasp123 said:

Anyone has any views on how the drop (or potential drop) in COE will affect used car prices? About to get a used car at xxx price but seeing the recent news/ today’s COE price, I’m staring to have some reservations haha

You won't see used car prices drop unless COE goes down consecutively for a few months. Why? The existing used cars you see on sale now were bought in at a high price due to the current high COE environment. Unless the dealer is willing to make a loss to make a sale, there is only so much margin they can work with. Even if COE does downtrend for a few months, used car prices will move much slower if at all. Dealers are all out to make a profit after all, so there is no incentive to start slashing prices. COE must go down and stay at a level where buying new is equal or more worth than buying used, then only dealers will wake up their idea.

Personal story: I went used car shopping after the COE crashed by $20k in Jan this year. Couldn't even get $5k off the list price despite "CNY promo" BS. Maybe I'm just a lousy bargainer.

[Jev]

On 11/8/2024 at 12:50 PM, boonhat_91 said:

You won't see used car prices drop unless COE goes down consecutively for a few months. Why? The existing used cars you see on sale now were bought in at a high price due to the current high COE environment. Unless the dealer is willing to make a loss to make a sale, there is only so much margin they can work with. Even if COE does downtrend for a few months, used car prices will move much slower if at all. Dealers are all out to make a profit after all, so there is no incentive to start slashing prices. COE must go down and stay at a level where buying new is equal or more worth than buying used, then only dealers will wake up their idea.

Personal story: I went used car shopping after the COE crashed by $20k in Jan this year. Couldn't even get $5k off the list price despite "CNY promo" BS. Maybe I'm just a lousy bargainer.

That's what the used car dealers would say, but the market is the market. In theory, a 4 year old car should move 60% with COE up or down. Otherwise a buyer could just buy a brand new car, why would you buy an older car with higher depre?

 

Maybe in Jan, dealers thought COE price would bounce back or they were being stubborn trying not to sell at a loss. Ultimately if it was lower over time they would be forced to sell.

 

I've personally bought a car at 100k off list price but that's another story. The markups for high end are insane.

[Arogab]

On 11/8/2024 at 9:16 AM, inlinesix said:

That's why tell you to buy Tesla.  But you kpkb about its look.

Now, you kpkb about unreasonable price.

Headache bro.

😂

Why? Tesla no need to pay COE meh?? It is the look, not the price. Even buying at 400k is also ok, but is it nice to have or need to have. Honestly, I have been away for so many years but kept a car all these years when my mother was around. When I change to my current ride originally targeting the Harrier Turbo. Having this ride was nice to have liao. The look of Tesla is really not my taste. The Boss.....even worse. Haha

On 11/8/2024 at 9:18 AM, BanCoe said:

Maybe he will bring in parallel BYD from TomYam land 😂

Maybe sell to my boss and bring to Tomyam land to be my ride. Haha

[Arogab]

On 11/8/2024 at 10:41 AM, epigram said:

the logic is that the dealers will ask what the market can bear. it is clear from LTA data that some dealers mark up 5-20k from basic cost; others mark up 50k-150k.

some people may begrude the dealers their mark-up. others don't. so the dealers will sell to those others. if the market generally rejects the mark up, then for sure the mark up will reduce.

in similar vein to my comment on suspension of logic, there are those that believe that the dealers should sell at basic cost or less. any dealer that does so will not be around for long to do so since it's clearly loss-making. because guess what, their staff need their wages to increase year-on-year.

I know, I have to operate my business too. But going too high is just not reasonable lah. Even my type of business, if you just over buy 2/3% compared to competitors for a 150K USD deal, you may be out liao. Consider lucky if the customer asks you back to negotiate if your relationship is good.

Anyway, back to my other post of why keep my current ride for another 10 years, the one car that I really love to upgrade RX 350H is not at all necessary for me as I am back every one or two months and for few days only. Also considering my current ride (already nice to have) is 7.5 years old and 39K mileage with soundproof done all 4 doors and boot, I also nano-coat every year. Did one engine flush one year plus back and it is like new engine leh.

[inlinesix]

On 11/8/2024 at 4:21 PM, Arogab said:

Why? Tesla no need to pay COE meh?? It is the look, not the price. Even buying at 400k is also ok, but is it nice to have or need to have. Honestly, I have been away for so many years but kept a car all these years when my mother was around. When I change to my current ride originally targeting the Harrier Turbo. Having this ride was nice to have liao. The look of Tesla is really not my taste. The Boss.....even worse. Haha

Maybe sell to my boss and bring to Tomyam land to be my ride. Haha

Tesla sell you at cost.

It addressed your "The problem is 2 rounds later also the price don't change lah. Worst of all, when COE is 50k, the price of the car is 200k. When the COE goes up 100k, hte price of the car is 330k and more. Haha, where is the logic?"

If tomorrow COE drop to $10.  You can get a 300hp car for less than $100k.

I don't think you will be coming back to retire.  Maybe should sell your ride😂

Edited November 8 by inlinesix

[Arogab]

On 11/8/2024 at 4:00 PM, inlinesix said:

Tesla sell you at cost.

It addressed your "The problem is 2 rounds later also the price don't change lah. Worst of all, when COE is 50k, the price of the car is 200k. When the COE goes up 100k, hte price of the car is 330k and more. Haha, where is the logic?"

If tomorrow COE drop to $10.  You can get a 300hp car for less than $100k.

I don't think you will be coming back to retire.  Maybe should sell your ride😂

I mention I can do Jan (SG), Feb (China), Mar (SG), Apr (TH), May (SG) and can keep on going or I got lots of choices leh. Regardless of what you say about the Tesla. Pom mai chop 🤣

[Quotz]

Wow, CAT A dipped by 10K! Time to change car? haha

[Tianmo]

A dead COE thread in a car forum, win liao lor.

 

[Invigorated]

On 11/20/2024 at 4:10 PM, Quotz said:

Wow, CAT A dipped by 10K! Time to change car? haha

this thread has been very quiet.. all waiting for 20k coe supply?

[Invigorated]

On 11/20/2024 at 4:12 PM, Tianmo said:

A dead COE thread in a car forum, win liao lor.

 

we need more coe supply for more drivers to support the forum.

[inlinesix]

On 11/20/2024 at 4:13 PM, Invigorated said:

this thread has been very quiet.. all waiting for 20k coe supply?

Wait till 2026

 

[inlinesix]

On 11/20/2024 at 4:10 PM, Quotz said:

Wow, CAT A dipped by 10K! Time to change car? haha

The drop is still precise

[Wildfaye29]

On 11/20/2024 at 4:13 PM, Invigorated said:

this thread has been very quiet.. all waiting for 20k coe supply?

Waiting for $20k coe

[Quotz]

On 11/20/2024 at 4:13 PM, Invigorated said:

this thread has been very quiet.. all waiting for 20k coe supply?

Yes, most likely so...

[Spidey10]

On 11/20/2024 at 4:10 PM, Quotz said:

Wow, CAT A dipped by 10K! Time to change car? haha

dun huat yet lah....if can, hold on and wait and see.....my salesman fren say one....means expecting it to drop further?

[Fellows]

This is worst than stock market chart, one bid can go all time high, then next bid can drop by $10K, no logic at all. 😝

Edited November 20 by Fellows

[Fellows]

When there is once upon a time at reasonable price at 2019 which is only 5 years ago and no idea what is happening after Covid-19, literally everything increase price.

Edited November 20 by Fellows