The next bidding exercise is going to be an interesting one with many "bargain-hunters". The quota premium slumped by about 50% in both categories in 2007 and fell by about 20% in 2006 just around the Lunar New Year. However, the successful bidders will not be in time to collect their new rides to celebrate the festive holidays.
The expected inflation and high oil price in 2008 will continue to dampen the demand for new cars. I expect quota premium for Category A to fall more than Category B. So, do you think it is a good time to buy?
Here's wishing you a Happy and Prosperous Lunar New Year! Gong Xi Fa Cai!
Prediction on January 29:
Category A: $8,000-9,000
Category B: $10,000-11,000
Verdict on February 5:
Category A: $12,002
Category B: $13,209
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