Allthough the quota premium for Category A COEs has fallen by $942, I was surprised by the strong demand. The only driver of the demand that has crossed my mind as I reflected on my under-estimation is the Hari Raya holiday ... our Malay friends may have taken the opportunity to get a new car for their "New Year". I have read in the local papers that one dealer had set up a stall at Kampong Glam to sell cars beside others who were hawking festive ware and food.
My apology to the regular readers as I am quite late in posting the latest prediction; I was busy with work having spent the week at Kuala Lumpur. As I have not read our local papers for the week, I do not know of any notable news on motoring except for a major advertising campaign from Motor Image on the Subaru brand - is it the launch of the new Impreza model? If you have gone to see what the "queue" is about, please share with this blog. I may attempt to find out in the next few days.
My prediction for the latest bidding exercise that the quota premium will soften marginally.
Prediction on October 14:
Category A: $15,000-16,000
Category B: $16,000-17,000
Verdict on October 17:
Category A: $12,401
Category B: $17,589
Update on Oct 18: The hype at Motor Image is the annual Subaru Challenge! So who will have the stamina to last through the multi-days "palm on the car" race to emerge as the winners?