COE price gone weee yet again!

[wildsoyabean]

http://www.straitstimes.com/BreakingNews/Singapore/Story/STIStory_506289.html

CERTIFICATE of Entitlement (COE) prices spiked sharply at yesterday's tender - the last such exercise before a sizeable reduction in supply kicks in next month - taking industry players aback and sparking calls for calm.

The big increases floored industry players. Many expected prices to rise before the supply cut, but few were prepared for hikes of over 10 per cent to 15 per cent.

But in what some quarters described as being akin to a last-ditch rush, a flood of bids pushed COEs for cars up to 1,600cc higher by 36.5 per cent, to $28,389; the premium for cars above 1,600cc rose 36.8 per cent, to $36,089.

Open category COEs, which can be used for any vehicle type but are mainly sought by car buyers, shot up by 52.2 per cent to reach $42,001, a level not seen since the 1990s. Commercial vehicle premiums were 21.8 per cent steeper at $32,890, while motorcycle COEs were 3.5 per cent higher at $1,200.

'This is beyond all expectations,' said Mr Neo Nam Heng, president of the Automotive Importers and Exporters Association. 'The prices really caught the market by surprise.

'But I don't think they reflect actual demand. There's a bit of desperation in the bidding.'

 

[RedDotPhoto]

the price is utterly mad....

 

[DrSpock]

Is it so surprising that everything including COE's are heading north? Demand & Supply, simple Economic lesson. It's boom time now, Summer time of the economy, and what goes down must go up and what goes up will eventually comes down. It's all a cycle and history repeats itself. Lucky for me I secured mine in Oct 09 so I'm v happy now:vhappy: Now waiting for the banks to call me soon and give me free money:lovegrin:...

 

[night86mare]

everybody want car

 

[jeanie]

i hope it goes up to 80k-100k again.

i'm quite tired of the amount of cars on the road everyday.

and i hope the government reinstate the 30% downpayment for buying cars.

call me selfish if you want.

 

[night86mare]

i'm quite tired of the amount of cars on the road everyday.

you can build your own road, jeanie zeh zeh, then you can own the road and be the only car on that road. :lovegrin::lovegrin:

 

[pokiemon]

i hope it goes up to 80k-100k again.

i'm quite tired of the amount of cars on the road everyday.

sorry the concept of coe doesn't work. it can control supply but it is not effective in addressing congestion issues.

you can build your own road, jeanie zeh zeh, then you can own the road and be the only car on that road. :lovegrin::lovegrin:

is her surname lee?

 

[night86mare]

is her surname lee?

i am quite sure the surname is lenscaps.

jeanie lenscaps, she is. :bsmilie:

 

[jeanie]

you can build your own road, jeanie zeh zeh, then you can own the road and be the only car on that road. :lovegrin::lovegrin:

well, if i'm a billionaire, you can be sure i will build my own TRACK at my backyard.

and may open it up for car enthusiasts to come to my playground.

 

[jeanie]

i am quite sure the surname is lenscaps.

jeanie lenscaps, she is. :bsmilie:

didnt know the lenscap has such BIG impact on you.:bsmilie:

 

[night86mare]

well, if i'm a billionaire, you can be sure i will build my own TRACK at my backyard.

and may open it up for car enthusiasts to come to my playground.

can you open it up for me?

i am not into cars, but i would like to ride a goat and gallop on a big big space. they are developing punggol, so that dream is no longer able to be fulfilled easily in singapore. :bsmilie:

 

[jeanie]

sorry the concept of coe doesn't work. it can control supply but it is not effective in addressing congestion issues.



is her surname lee?

why not?

you control supply, means less cars, albeit you got to wait few more years for the exisitings cars to be scrapped.
i dont remember there's such bad jams everyday when there was this 30% ruling and skyhigh coe.

donkey years back, a corolla cost 100k.

can u believe that s***?

 

[night86mare]

didnt know the lenscap has such BIG impact on you.:bsmilie:

:bsmilie:

my life changed!

 

[jeanie]

can you open it up for me?

i am not into cars, but i would like to ride a goat and gallop on a big big space. they are developing punggol, so that dream is no longer able to be fulfilled easily in singapore. :bsmilie:

you got fetish for goats?
go to the goat farm after 40 tiang.

they have tons of goats for you to........:bsmilie:

that's where i get my goat's milk for shower.

 

[night86mare]

they have tons of goats for you to........:bsmilie:

place lenscaps in between udders? :bsmilie::angel:

 

[hazmee]

Yeah, they should increase the COE to 200K at least. No space for me to drift my Dahaitsu pickup on tight corners anymore.

 

[2evans]

why not?

you control supply, means less cars, albeit you got to wait few more years for the exisitings cars to be scrapped.
i dont remember there's such bad jams everyday when there was this 30% ruling and skyhigh coe.

donkey years back, a corolla cost 100k.

can u believe that s***?

There was an article recently about how COE hasn't lived up to expectations.

Would like to see 30% down as I think that would have more of an impact.

 

[valkyrie]

Everyone just switch from car to motorbike.... no more jammed problem...

 

[jeanie]

Everyone just switch from car to motorbike.... no more jammed problem...

motorbike no jam?

please take a trip to cambodia or vietnam.

they have more bikes on the roads than the population of singapore.

 

[jeanie]

There was an article recently about how COE hasn't lived up to expectations.

Would like to see 30% down as I think that would have more of an impact.

cos is definitely a way to control the amount of cars imho.

BUT

you cannot have coe so low that's so affordable to everyone in every class.

take for eg, when coe was 70+k donkey years back, the sales execs were swapping flies in the showroom.