COE Renewal Prices | August 2020 PQP Results
The following info is for those looking to renew their COE renewal in August 202 or in the month after as we look a little into September 2020.
As always, our prediction article will be on or about 10th of the next month for a more detailed analysis of what September PQP will be for those whose COE expiry will be on that month. (Note: Prediction for September COE renewal price is now out! Click here to read!)
Let’ start with the COE bidding prices. For this month of July, we first saw a significant increase in bid prices compared to the last bid prices in March 2020, then followed by this slight easing off.
COE Prices for 2nd Bid of July 2020
Cat A $32,699
Down by $821 (-2.51%) in the latest bid. But still up by compared to last bid of March 2020 where the price was $31,210.
Cat B $35,001
Down by a similar (-2.54%) or $888 compared to the first bid of this month.
Cat C $23,888
Down, by $614 (-2.51%) compared to the previous bid.
This is a small reduction in the prices for COE in all the above three Categories, but overall the COE prices are all higher than before the Covid-19 shutdown of showrooms and stoppage of bidding.
The biggest difference is Cat B with an almost $5000 increase in price from the pre-CB bid price in March.
And so we come to the COE renewal prices for August, which we had earlier predicted a fall in all categories (excluding motorcycles).
PQP COE Renewal Price Results for August 2020
Cat A $32,190
This is a reduction of $685 compared to July PQP of $32,875. Our prediction was higher than actual PQP by $50.
Cat B $32,914
This is a reduction of $654 compared to July PQP of $33,568. Our prediction was lower than actual PQP by $33.
Cat C $24,102
This is lower by $196 compared to $24,271 of July PQP. Our prediction was higher than actual PQP by $18.
In all, we are happy to predict all categories within $50 or less of actual PQP prices.
COE In July Is Higher Than March But PQP Goes Down
Yes, because there is a lagging effect of averages, and since PQP is a three month moving average (Note: there is no mid month PQP prices available after the first bid of the month), the effect of a rising or falling trend comes later, like here for August PQP from the down trend seen since December 2019. The months that affected August are February and March lows.
August PQP is irregular in that it is calculated from February, March and July bid prices due to the Covid-19 COE bidding stoppage that started in April, instead of three consecutive months.
Where Is September COE Renewal Price Going?
We are leaning towards a rise in COE renewal after August month, so if you have a car expiring in the month of September or maybe October, do be ready to renew it in August instead to save some cash. And we can help you be ready. Click on WhatsApp to chat with us how or call 92782880 during office hours.
We help all our customers who renew their COE through our COE loan service to monitor their COE PQP (the renewal price) so that they can choose the best time to renew with the info we update them with.
A few of our customers have saved thousands with our help, many saved hundreds of dollars. Serving your interests first – SG Cash N Cars!