November 2018 PQP Result & How Close Was Our Prediction?

Latest PQP info guys! We are happy to announce that the PQP for November is down across the board again!

This is the PQP for the month of November 2018

Cat A $29,670

Down by $614 compared to the month of October 2018

Cat B $32,121

Down by $158 compared to the month of October 2018

Cat C $28,733

Down by $664 compared to the month of October 2018

So Was Our Prediction Announced Earlier Accurate?

We were the closest for Cat B when we predicted $32,120 for a grand difference of $1 to the actual PQP!

For Cat C, the prediction was $28,650 and this is a small $83 only. We think that is outstanding accuracy too!

For Cat A, this was not expected, where the COE fell by $2,901 to only $25,556, pulling the whole PQP lower to $29,670. We were $574 away in our prediction from the actual PQP level for Cat A November 2018.

And What Is The Takeaway to Note?

The falls we expected in PQP did come, we predicted a fall in PQP across all categories, and yes they did fall.

What we did not expect was the weaker demand in small Cat A cars than was we had thought. While we were still right about the direction, we were off by $574.

However, this is important to note: the price difference between the months as we move along is generally getting smaller for private cars.

For Cat A –

August to September a difference $1857 (down)

September to October a difference $2055 (down)

September to October a difference $614 (down)

For Cat B –

August to September a difference $1613 (down)

September to October a difference $1098 (down)

September to October a difference $158 (down)

COE balance point

Are we getting to a balancing point for COE bidding prices as the long term average PQP differences month to month are getting smaller?

 

 

 

 

 

 

 

 

 

What this means for the owners of cars who have expiry in the months that are to come, we will write more on that in our next post.