CHINA EVs are manipulating our COE

[Worm]

China EVs are incentivising its Singapore distributors with substantial growth-based rebates. To hit these targets, some distributors have allegedly teamed up with smaller dealers and leasing firms to "paper-register" cars without actual buyers, artificially inflating COE prices.

• Under this model, profit isn't coming from car sales themselves, but from manufacturer rebates and interest on car loans—some of which reportedly involve illicit 100% financing.
  
• Even with geopolitical tension in middle-east, high oil prices and reduced PARF rebates, COE prices haven't softened because these players are betting on the market "gapping up."
  
• By hoarding pre-registered stock, they ensure these "management cars" become more valuable as COE rises every few months. Essentially, the market has been cornered: as long as COE remains high, the distributors win.

 

[KingFook Sr]

With the support of the PAP ... for a good GDP.

 

[Worm]

With the support of the PAP ... for a good GDP.

LTA also wins.

The chinese EVs are notorious for selling zero-mileage used cars in China - pre-registering the cars to obtain subsidies and sell as used cars to owners.
https://www.reuters.com/business/au...-crackdown-zero-mileage-used-cars-2025-06-10/

In Singapore, dealers often use proxies to pre-register new cars without an actual buyer. By ensuring COE prices continue to rise, they protect the resale value of these vehicles, allowing buyers to purchase them at a discount relative to the current, higher COE rates.

 

[eatshitndie]

let’s see how tiongs and their shady syndicates in sg outsmart the sinkie system.

 

[k1976]

Swiss Standars system mah

 

[syed putra]

Free market. Aggressive marketing. All these from a communist country. US falling behind.

 

[laksaboy]

Once you understand that China is still communist and not capitalist, and profit motive or playing by the rules are not objectives in its trading activities, you will understand everything.

Should have thought of this day before letting that trashy country join the WTO in 2001.

 

[supreme]

let’s see how tiongs and their shady syndicates in sg outsmart the sinkie system.

They have already outsmart those stupid sinkies already. Those idiots just don't get it. Those dealers bid high get customers to get huge loans illegally or legal. Profits from resale and loans etc. When they cleared all their stocks then they withdraw their high bids suddenly as already they control 80% of EV market. and let the COE crash. Then those idiots with high loans suffer. Then cycle repeats itself again and again. Thats theor modus operandi. End up distributors and LTA win. Those idiots with high loans loses.

 

[superpower]

Once you understand that China is still communist and not capitalist, and profit motive or playing by the rules are not objectives in its trading activities, you will understand everything.

You're obviously clueless about economics.

This is not communism. This is ultra-capitalism, jungle capitalism. Exploiting the loopholes to maximise profits for yourself, intense competition, race to the bottom. Sometimes to the detriment of the entire industry. The Chinese have a word for it: 卷.

Capitalism is not about playing by rules, it's about exploiting the loopholes in rules to maximise return on capital. Why do you think there are anti-trust laws in America? And we still end up with a behemoth like Microsoft.

The irony is, as @syed putra stated, that China is nominally 'communist', but they are 'out-capitalizing' the US.

 

[eatshitndie]

They have already outsmart those stupid sinkies already. Those idiots just don't get it. Those dealers bid high get customers to get huge loans illegally or legal. Profits from resale and loans etc. When they cleared all their stocks then they withdraw their high bids suddenly as already they control 80% of EV market. and let the COE crash. Then those idiots with high loans suffer. Then cycle repeats itself again and again. Thats theor modus operandi. End up distributors and LTA win. Those idiots with high loans loses.

as usual sinkies are like sheep for the slaughter. meaty and delicious too!

 

[face the facts]

locals get fucked again no matter who or whats in charge

 

[superpower]

locals get fucked again no matter who or whats in charge

The COE system is a fucked-up system to begin with. Question is why no local distributor or consumer body has exposed the shortcomings in the past three and a half decades before the Tiongs came, saw the potential and manipulated the system?

Sheep will be sheep.