It’s the last month of the year and we are past the first bid of November 2018.
As of the date of this writing, we have 5 more days till November’s second COE bid and aren’t you all eager to know the COE results for December 2018? How about the next best thing to the actual result?
Our Prediction Next Month’s PQP – December 2018
The PQP for COE renewals has been falling for almost the entire year except for Cat A where it went up for one month out of the all months for the whole of this year, and that rise was marginal – a small increase only.
But, with the recent support for COE levels from the success of the motor show at the Expo, we are seeing some strength in Cat A from the first bid of November where Cat A rose by $2,643 to $28,199 and Cat B up by exactly $1,000 to $32,302 are we in for a higher renewal price for COE in the month of December?
We love delivering good news. Why? Because despite these increases, we are still predicting a fall in the prices for COE PQP for December 2018!
This is what we forecast the PQP to be for the month of December 2018:
Cat A $28,236
Down by $1,434 compared to the month of November 2018
Cat B $31,868
Down by $252 compared to the month of November 2018
Cat C $28,518
Down by $215 compared to the month of November 2018
Still Good News?
Yes, albeit temporarily! We love giving good news! So it is still overall predicted to be cheaper for the month of December 2018 than to renew in November.
But the month on month savings are getting really slim for Cat B and Cat C!
Cat B COE bids seems to be finding firm support at the $32,000 level and we actually see it remaining stable at this level for the coming bid, given that there is a small reduction in Cat B numbers from 2,529 to 2,471 in this current quarter.
Given that that is the case, our forward looking at the Cat B price for the January PQP 2019 is actually up! Its been a long time since we mentioned “up” for Cat B but all parties tend to end a some point in time, and we have had a long celebration already for big car owners.
Unfortunately, we may be seeing the same upward trend for Cat C as well. And that uptrend for January Cat C COE renewals seems to be even stronger than for Cat B!
Our January outlook for Cat A COE renewals is actually neutral. So at least some respite there compared to the other two categories.
Want to know more? And your COE renewal is coming up soon? Contact us via the form on the right for more info to assist you if you r renewal is in the coming two months – we are here for your renewal needs!