COE Chee: Local individual buyers are responsible for the recent high COE prices

[Philipkee]

1. **Correlation vs Causation Fallacy**
- Minister Chee argues that because PHC companies' successful bids decreased (26% to 10%) while COE prices increased, PHC companies aren't a main driver of prices
- This logic is flawed because:
- It doesn't account for the possibility that PHC companies were priced out of the market
- The remaining 10% could still have significant price impact through competitive bidding
- Price increases could be partially caused by the previous high participation (26%)

Don’t understand this

Successful bids means what?
Let’s say 10%

Of a quota of 100 cars, 10 cars were obtained by dealers
Or
Dealers submitted 100 bids and were only successful for 10 of them?

it makes a whole world of difference especially if dealers for phv only submitted 10 bids and actually won all 10 bids even though its only 10% since the quota is 100 vs dealers sent 100 bids but were only successful for 10 of them

 

[rider83]

Remove COE, no COE, no higher price, nobody kpkb

 

[jumpthepig]

2019 - Some months total bid received were almost twice more then quota, that was very similar to now. But COE price at that time was only around $30k.….so why buyers decide to bid a few times higher now?…. Simi Logic?

See this total bid&quota chart.
https://coe.sgcharts.com/

 

[MegatonNev]

Or decided by the lowest bid?

Lowest bid of the quota released amount... But still highest before the cutoff amount.

 

[Evil_Boss]

sinkies rich can keep buy car.

i think should make the COE 200K

 

[Evcats]

2019 - Some months total bid received were almost twice more then quota, that was very similar to now. But COE price at that time was only around $30k.….so why buyers decide to bid a few times higher now?…. Simi Logic?

See this total bid&quota chart.
https://coe.sgcharts.com/

Well within mid high family income to afford, eg a $170K BYD Atto 3

https://byd.1826.sg/atto3 Monthly deposit less than $1.5k

when someone wants a car now they just take a loan. For some finance companies you can drive away with $0 downpayment and deposit. Risky for lower income family but still “affordable” especially if they use the car for PHV (and own use).

 

[jumpthepig]

Well within mid high family income to afford, eg a $170K BYD Atto 3

https://byd.1826.sg/atto3 Monthly deposit less than $1.5k

when someone wants a car now they just take a loan. For some finance companies you can drive away with $0 downpayment and deposit. Risky for lower income family but still “affordable” especially if they use the car for PHV (and own use).

Hope COE price goes back to good old days... if so mid family can easily afford this BYD Atto 3... Sale of BYD will surge, then all BYD salesman will huat big big...even better tio bo?

 

[Eliwood]

Wait ah.... Isn't COE bidding decided by highest bidder?
No matter how many percentage of bids is car leasing companies or foreigners, as long as they make a very high one, the rest GG....

And anyways, car dealerships doesn't sell car without using their COE bid so still GG.

So boycott the ADs instead....

 

[RedOrion]

Why recently he talk a lot of rubbish to stir?
Is some sort of whitish rite of passage, need to gain some media infamy and get "burnt" by citizen lashout then can progress?

Might as well he say directly shoot the rich people who buy 2 or more cars. kambeng.

 

[PAP4ever]

Why recently he talk a lot of rubbish to stir?
Is some sort of whitish rite of passage, need to gain some media infamy and get "burnt" by citizen lashout then can progress?

Might as well he say directly shoot the rich people who buy 2 or more cars. kambeng.

he believe in "all publicity is good publicity.. even if its bad"

 

[BigMonkey]

this 1 time doesn’t count, doesn’t mean the other 99 also doesn’t count.

 

[Mystyque]

High coe not their problem.
high mrt breakdown not their problem.

Was it Jo Teo or some MIW that said Sinkies can choose not to all go take MRT at the same time?

 

[BehKan_Hippo]

This is very funny..

 

[SuperGreenHorn]

Was it Jo Teo or some MIW that said Sinkies can choose not to all go take MRT at the same time?

Takes a special breed of daft voters to continue vote for ppl who didn't do their job properly and instead, blames it on the voters!!

 

[MynameisS]

Yes.. we are to blame...

Yes always Sinkie fault. Not the fault of Foreigners or Rulers. Hence proved.

 

[yobyella]

Sinkies fault again.

Only 30% at fault.

 

[Justrade]

They always have absurd ways to justify. Never reflect or too proud to reflect. The recent Fujian money laundering cases already show how many cars those people have per person. Open flood gate to those people to push down our own SG borne locals.

 

[Lifetime warranty]

Of cos.. as you voted for them mah.. your fault...