COE for the next 3 months (>10K COE ???)

[Pisces44]

https://www.8world.com/singapore/coe-quota-1526981?fbclid=IwAR1Fzd1Ww82tkLQV3pwUBNht0X1egdrNCRQpMQPYkn4Fgo7sUxTijB611zU

货车与巴士组以及摩托车组的拥车证配额也减少，分别达到230张和889张。

According to Chinese news, motorcycle COE for the next 3 months will be reduced to 889.

Edited July 14, 2021 by Pisces44
Wrong

[Version001]

This is gonna suck so hard. I'm about to start my 2A classes soon and am currently looking around for a 2A bike. I hope the COE pricing for bikes does not get any more ridiculous.

[Pisces44]

9 hours ago, Version001 said:

This is gonna suck so hard. I'm about to start my 2A classes soon and am currently looking around for a 2A bike. I hope the COE pricing for bikes does not get any more ridiculous.

Which driving centre ?

Comfort closed until 29th jul...

https://sg.news.yahoo.com/comfort-del-gro-driving-centre-ubi-kovan-tampines-closed-122351397.html

Driving instructors go ktv ????? Hahaha....

 

[Version001]

12 hours ago, Pisces44 said:

Which driving centre ?

Comfort closed until 29th jul...

https://sg.news.yahoo.com/comfort-del-gro-driving-centre-ubi-kovan-tampines-closed-122351397.html

Driving instructors go ktv ????? Hahaha....

 

Haha sounds like the driving instructors paid the KTV a visit.

I'm planning to register for my 2A classes at BBDC. 5 mins bus ride away from my place. I'll be a 1yr rider on Aug 12.

[SBF]

Yup, only 889 COEs available for Motorcycles (Cat D) for Aug to Oct 2021.

There's a good chance we might see COE breaking 10k SGD!

This also affects the used bike market so if you're in the market for new/used motorcycles, you are going to get affected.

There really should be a separate scheme for motorcycles!

[SBF]

6 hours ago, Version001 said:

Haha sounds like the driving instructors paid the KTV a visit.

I'm planning to register for my 2A classes at BBDC. 5 mins bus ride away from my place. I'll be a 1yr rider on Aug 12.

So far SSDC is the only driving centre not to have been affected by the pandemic.

Stay safe guys, and good luck for your 2A @Version001!

Do you currently have a Class 2B motorcycle? Maybe you can ride it awhile longer while waiting for COE to drop.

[Version001]

On 7/16/2021 at 4:30 PM, SBF said:

So far SSDC is the only driving centre not to have been affected by the pandemic.

Stay safe guys, and good luck for your 2A @Version001!

Do you currently have a Class 2B motorcycle? Maybe you can ride it awhile longer while waiting for COE to drop.

I do not own a motorcycle atm but I'm borrowing my brother's 2B bike occasionally to ride around.

I may just wait it out before the purchase if the COE really does get more costly. Any idea why the COE price for motorcycles has spiked these past couple of years? Was reading around on old forum posts and saw that it used to be like around half the current price?

[Issac]

On 7/16/2021 at 9:47 AM, Version001 said:

I'm planning to register for my 2A classes at BBDC. 5 mins bus ride away from my place. I'll be a 1yr rider on Aug 12.

Congrats @Version001and all the best on your 2A journey!

[Pisces44]

On 7/18/2021 at 1:45 PM, Version001 said:

I do not own a motorcycle atm but I'm borrowing my brother's 2B bike occasionally to ride around.

I may just wait it out before the purchase if the COE really does get more costly. Any idea why the COE price for motorcycles has spiked these past couple of years? Was reading around on old forum posts and saw that it used to be like around half the current price?

Blame COVID (or China if you prefer). COE shot up to 6K+ after lockdown. (from 4k before lockdown).

Next 3 months COE going to cut...i dun think it will go down.

[E.O.]

On 7/16/2021 at 4:29 PM, SBF said:

Yup, only 889 COEs available for Motorcycles (Cat D) for Aug to Oct 2021.

There's a good chance we might see COE breaking 10k SGD!

This also affects the used bike market so if you're in the market for new/used motorcycles, you are going to get affected.

There really should be a separate scheme for motorcycles!

10k for COE is crazy leh, i feel that govt should reduce quota for cars slightly, 1 car length=2 bike length according to driving school instructors so maybe 10 cars reduced can increase quota by 20 for motorcycles hahaha.

Oh and @Pisces44 i've finally gotten my 2B license 4 days ago! Thank you so much for your encouragement, as well as everyone from the other thread all these while 

[Version001]

 

Went up as expected.

[Pisces44]

On 8/16/2021 at 10:46 PM, E.O. said:

10k for COE is crazy leh, i feel that govt should reduce quota for cars slightly, 1 car length=2 bike length according to driving school instructors so maybe 10 cars reduced can increase quota by 20 for motorcycles hahaha.

Oh and @Pisces44 i've finally gotten my 2B license 4 days ago! Thank you so much for your encouragement, as well as everyone from the other thread all these while 

Congratulation ....  COE is 9.5k now....

[Issac]

Is the system being gamed and consumers taken for a ride?

Then again... it's a willing seller & willing buyer market.

[poorboii]

its a well known secret that MT are bringing up the prices 

 

expect 10k soon 

[apogeeXX]

A news article that just published

Fix COE system to preserve its original intent

https://www.straitstimes.com/singapore/transport/fix-coe-system-to-preserve-its-original-intent

 

[Pisces44]

3 hours ago, apogeeXX said:

A news article that just published

Fix COE system to preserve its original intent

https://www.straitstimes.com/singapore/transport/fix-coe-system-to-preserve-its-original-intent

 

Well said....but is the gov gg to do anything about it ?

0 down payment & paid by installment....many buyers are still gg for it.

Anyone is ST subscriber ? Can share the full article here ?

Edited September 12, 2021 by Pisces44

[apogeeXX]

Fix COE system to preserve its original intent

https://www.straitstimes.com/singapore/transport/fix-coe-system-to-preserve-its-original-intent

 

Quote

SINGAPORE - When the vehicle quota system - or the COE system - was introduced in April 1990, it took just four years for car certificates of entitlement to reach a shocking all-time high of $110,500 in November 1994. Premiums plunged immediately to a more palatable $65,000 the following month, ahead of measures to curb speculative bidding behaviour which exerted a huge social cost. The measures included banning the transferability of car COEs (as well as double transfers, where dealers secure COEs using proxies such as employees and transferring the ownership when there are real buyers), and limiting the COE refund if a vehicle is deregistered too soon. Further tweaks followed, and today, car COEs (except the Open category) are nontransferable, and cars cannot be resold within the first six months without penalty. The quota system has been fine-tuned many times over the years, but transfers are still permitted in three categories: commercial vehicles, motorcycles and the Open category. This may be why there are still signs of speculative bidding in these categories. One tell-tale sign is the number of expired or unused COEs which are then carried over to subsequent tenders. In a tally of quota allocations between August 2010 and January 2020, expired COEs crop up in sizeable numbers regularly. For instance, more than 2,300 expired COEs made up the November 2018 to January 2019 quota, of which nearly 99 per cent were expired motorcycle certificates. The May to July 2019 quota consisted of 896 expired COEs, of which 98 per cent were expired bike COEs. And the February to April 2019 allocation had nearly 650 expired COEs, of which 97 per cent were from the two-wheeler category.

 

There is another reason why motorcycle COE bidders are responsible for the bulk of unused COEs - the low risk bidders face. The bidding deposit for motorcycle COE is $200, versus $10,000 for the other categories. Deposits are non-refundable. Hence, motorcycle COE bidders stand to lose little vis-a-vis the potential gains from driving prices up. This behaviour may not be exclusive to COE auctions. For instance, property developers with land banks accrued from previous land sales may have an interest in driving up bids at future tenders so as not to devalue their assets in hand. Of the 32 COE quotas analysed, expired motorbike COEs accounted for 6 per cent of motorcycle COE quotas, and 73 per cent of all expired COEs. The situation was starker between 2017 and 2019, when expired motorcycle COEs accounted for 11 per cent of the bike COE supply, and 89 per cent of all expired COEs. It was during this period that bike COE prices first breached the $8,000 mark - up significantly from the $5,000 to $6,500 range in the preceding two years. The analysis also shows that the percentage of expired motorcycle COEs tends to move in tandem with the size of COE quotas. In lean periods, like now, bidders are less likely to "gamble" as they do not wait till the last moment to use COEs in hand to register a bike. But industry observers say some bidders still engage in price-propping practices, where they submit bids to drive up prices - sometimes with no intention of  securing  COEs - so that they are in a better position to offload COEs in hand to other bike dealers if necessary. Not dissimilar to what is known as shill bidding, this behaviour drives up prices artificially.

 

Over the years, calls have been made by several MPs to curb speculation in motorcycle COE bidding. Time and again, the Land Transport Authority (LTA) says there is no evidence of speculative behaviour. But whether or not there is such undesirable behaviour, why not apply the same nontransferable policy that  is in place for car COE categories? If nothing else, for policy consistency. MORE ON THIS TOPIC High motorcycle COE prices worry both new and experienced riders Used cars assume shine with tight COE supply The counter argument? The LTA says it wants to maintain flexibility for the trade, so that dealers with better sales can obtain COEs from those encountering slow sales. This is a similar argument for retaining the Open category. That reasoning may hold water back when COE tenders were held once a month. But since 2003, tenders have been held twice a month, so buyers and sellers need wait only two weeks (and occasionally three) to have another stab at securing a COE. And if a buyer really needs a vehicle urgently, he can well acquire a used one. The Open category also skews the system in favour of buyers and sellers of bigger cars, as they have the financial muscle to outbid others. This explains why the car population continues to grow despite a zero-growth policy being in place for three years. There have also been calls to increase the $200 deposit for bike COE bids to curb speculation. The Government counters this by saying the deposit is to help bike buyers, who are usually from the lower-income segment. But soaring bike COE prices affect  the very same people the Government is trying to help. At close to $10,000 now, the COE premium for bikes is more than six times the pre-tax cost of the cheapest motorcycles. If the same quantum applies to fourwheelers, car COE prices would be close to $100,000 now.

 

The last time car COEs neared $100,000 (in 2013), the Monetary Authority of Singapore swiftly re-introduced car loan curbs to cool the market. MORE ON THIS TOPIC Car COE prices slide while commercial vehicle and motorbike premiums climb COE prices surge ahead of another supply cut; spike is biggest in over 10 years With record-high bike COE premiums, riders are now taking up loans with a longer tenure. This has economic and social costs that Singapore can do without. After all, the primary intent of the vehicle quota system is to curb vehicle population growth so as to contribute to Singapore's liveability. The revenue aspect of the system should be secondary. If raising bid deposits or making all COEs non-transferable is  deemed undesirable, why not introduce a penalty system for unused COEs? Those holding COEs that  expire can be made to cough up half the prevailing rate of those certificates - unless in exceptional circumstances, such as if the vehicle buyer dies. This can apply across all COE categories, which should send a strong message to those who make a mockery of this auction system.

 

Edited September 13, 2021 by apogeeXX

[Issac]

10 hours ago, apogeeXX said:

Fix COE system to preserve its original intent

https://www.straitstimes.com/singapore/transport/fix-coe-system-to-preserve-its-original-intent

 

Thanks for sharing this @apogeeXX. It's obvious the system is 'broken', but it looks like there's once again no 'will' for fixing it. We continue to get fed the '10 years series answer'. Truly Singaporean.

[apogeeXX]

Proposals to tweak motorcycle COE bidding rejected as they may lead to 'unintended consequences'

https://www.straitstimes.com/singapore/proposals-to-tweak-motorcycle-coe-bidding-rejected-as-they-may-lead-to-unintended

 

Proposals to tweak motorcycle COE bidding rejected as they may lead to 'unintended consequences'

SINGAPORE - Categorise motorcycles according to their engine capacities for certificate of entitlement (COE) bidding, and use a balloting system similar to that for Build-To-Order flats for smaller motorcycles, MP Faisal Manap (Aljunied GRC) proposed in Parliament on Tuesday (Oct 5).

In the last parliamentary motion of the day, Mr Faisal said the Government needed to find ways to make motorcycles more affordable.

Motorcycle COE prices in recent months have reached historical highs - amounting to four to 10 months of riders' salaries, he said. In 2001, it was $509. In September, it had reached $9,689.

Creating separate COE categories for the three different classes of motorcycles - instead of the now catch-all Category D - will allow more appropriate prices for each, he said.

Using a balloting system for Class 2B motorcycles, with engines not exceeding 200cc and usually used by first-time buyers or those relying on them for a living, will make this category less prone to speculative buying, Mr Faisal said.

If the current bidding system is to be kept, riders should be able to bid under their own name rather than through dealers, which could push up prices to increase their profit, he added.

"I am mindful that the ultimate goal is not to lead to an increase in the number of motorcycles on the road. Rather, my intention is to improve the well-being of our fellow Singaporeans who rely on motorcycles to make a living," Mr Faisal said.

In response, Senior Parliamentary Secretary for Transport Baey Yam Keng said tweaking the COE system could have knock-on effects and potentially unintended consequences on buyers.

The system is functioning now, he said, pointing to the high utilisation rates of motorcycle COEs, which have averaged 99 per cent since bidding resumed in July last year, indicating the demand for COEs is genuine rather than speculative.

"While it is not a perfect solution, the system has generally worked, and COE prices fluctuate based on supply and demand," he said. "That should be the case."

Mr Baey said only about 440 Category D COEs are available for each bidding exercise, and splitting them into sub-categories could result in greater price volatility as each bidder would have a greater influence.

The percentage of bikes registered in each sub-category has historically also fluctuated from month to month, making it difficult for the authorities to fix quotas for each sub-category.

As for Mr Faisal's balloting suggestion, Mr Baey said it will require the Government to set a price arbitrarily, which could affect demand and "those who truly need the motorcycle for a living and are prepared to pay a bit more".

He also said riders are already allowed to bid in their own name under the current system, but many still choose to go through dealers as they are able to buy a bike immediately using the COEs secured by dealers, he said.

"A removal of this option could have unintended consequences for buyers and will have to be studied carefully."

Mr Faisal's proposal to allow COEs for motorcycles to be renewed for two five-year terms instead of the current single five-year term was rejected by Mr Baey as it would affect the balance between existing and prospective owners, since expired COEs are recycled into the system for bidding again.

His call to extend the Preferential Additional Registration Fee rebate, given to car owners who choose to scrap their vehicles early, to motorcycle owners was also rejected by Mr Baey, who said costs for motorcycles are already kept lower than other vehicles through measures like lower road tax.

On Mr Faisal's suggestion for allocated parking areas for delivery and dispatch riders, Mr Baey encouraged commercial building owners to set aside parking spaces for these riders with a reasonable grace period.

[Pisces44]

https://www.channelnewsasia.com/singapore/coe-quota-november-2021-january-2022-vehicle-growth-rate-lta-2246976

 

NOVEMBER TO JANUARY QUOTA

The quota for Category D (motorcycles) also decreased from 2,668 to 2,468.

 

Good luck if you're getting a new bike.

[poorboii]

It really does not make sense to buy a class 2B which was the price of a class 2 few years back in SG 

 

[SBF]

@Pisces44 I thought there was some hope when COE dropped to 9k but with the announcement of the lower quota, COE shot up again the next bidding. Things are not looking good, high chance of breaking 10k.

@poorboii True bro, but unfortunately many need bikes for food delivery, getting around, demand is still there is the market because it can be used to make money (Grab, foodPanda, Deliveroo, etc). And these are usually the Class 2B scooters/kups. Unfortunate fact now. But COE prices really need to be reviewed, especially for Cat D motorcycles. Ridiculous when COE is higher than the machine price of a Class 2B bike!

[poorboii]

On 10/27/2021 at 12:33 AM, SBF said:

@poorboii True bro, but unfortunately many need bikes for food delivery, getting around, demand is still there is the market because it can be used to make money (Grab, foodPanda, Deliveroo, etc). And these are usually the Class 2B scooters/kups. Unfortunate fact now. But COE prices really need to be reviewed, especially for Cat D motorcycles. Ridiculous when COE is higher than the machine price of a Class 2B bike!

Maybe the authorities should create another cat for class 2A and above.

Cat D2 (400cc and above)

[Pisces44]

More bad news...

https://www.todayonline.com/singapore/coe-quota-february-april-falls-further-eight-year-low-1791191

Cat D quota will be further cut for the period from Feb to April....