Here's wishing everyone a Happy Lunar New Year! Gong Xi Fa Cai!
The oversubscribed rate for the February 1st bidding exercise was 15%(previously 46%) for Category A, 35%(previously 54%) for Category B and 79%(previously 128%) for Category E (Open) COEs. With the CNY holidays falling on February 15 and 16, the upcoming bidding exercise is moved to next week. Thus, the three weeks' elapse time may have allow the dealer to collect some sales orders. I do not think there will be a major fall in quota premium from the post-CNY lull but the anticipated weakness in demand may bring COE quota premium may dip back to the $15-20K range.
Prediction on February 18:
Category A: $15,000-16,000
Category B: $18,000-19,000
Verdict on February 24:
Category A: $20,340
Category B: $23,889
4 comments:
Hahaha... I think this time round your prediction is quite far off...
Hahaha ... I agree. I should visit the showroom over the weekends instead of slacking over the CNY festivities. The next bidding exercise should be interesting being just a week away.
Correction to my earlier comment that the next bidding exercise is just one week away. Well, I have confirmed that the next bidding exercise opens on Monday March 8 and closes on Wednesday March 10.
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