So soon after we did the announcement for 2018 December PQP and we are going into the new year! Its hard to believe we on the verge of 2019 already! We hope it has been as good a year for you, and that 2019 will be better.
Without further ado, let’s get to what you want to know if you have a vehicle coming up for COE renewal – where is the PQP headed for January 2019, and here are our preditions for the coming first PQP of January.
Our Prediction Next Month’s PQP – January 2019
The COE has fallen in the first bid of December and this bodes well for those whose renewal month falls in January or the coming months after that.
Especially so for those who have Cat A cars as the latest bid has come down to only $23,568. Are we going to see the PQP come to a fall of four figures compared to December’s PQP? We do think so! And the first bid seems to give good hope for that. But you need to know, usually after a sharp fall in the bid prices, there will be a recovery in the immediate next bid – and that is what we see for Cat A in the bid closing tomorrow on the 19th of December.
Cat B is relatively less exciting for those who want to renew – the fall in bidding prices was an almost insignificant $100 compared to the final bid of November 2018. So are we going to see significant benefits for the PQP of January 2019, especially when this fall of only $100 is averaged over 6 past bids for the calculation of January’s PQP? But unlike the significant fall in Cat A, the good part is our forecast sees a small reduction in the COE bid prices for Cat B in the final bid of the year, unlike the bounce that we see for Cat A. This is in spite of the need to deliver new cars prior to Chinese New Year coming up. And because of that, we do see that the PQP for January in Cat B will also be down for the month of January.
And so, drum roll, here is our forecast for the first PQP of the coming new year:
Cat A $25,880
Down by $1,693 compared to the month of December 2018
Cat B $31,251
Down by $302 compared to the month of December 2018
Cat C $28,518
Down by $15 compared to the month of December 2018
Happy New Year for You?
It certainly seems that way for those whose cars are in Cat A, they should be very happy with a projected four-figure drop for the coming new year. Further good news is our longer term forecast sees continued reduction, with better prices for those whose expiry is closer to March and or April of 2019.
However, we see that Cat B is reaching a state of stability which will not see much fluctuation in PQP until the COE bids make a significant movement in either direction, otherwise the PQP should remain at about the $31,000 level for Cat B.
Although we see Cat C flat at only a $15 difference for January 2019, the February 2019 PQP should see more advantage for those looking to renew commercial vehicles. So do keep a close watch on what’s happening and you should see some savings if you are in the market with a commercial vehicle.
So whilst the drop in prices may not be as significant for our Cat B and Cat C owners, it is still a reduction and something to be thankful for. There is no party that is forever, and one day it will go back upwards again.
If you need further advice on COE renewal and or wish to take financing, now is the time to contact us – rates are attractive and for Cat A we are looking a cost from only $267 per month. This is starting to look like MRT-plus-occasional-taxi-when-it-rains pricing for transport. It would be a waste not to renew and enjoy this benefit of owning a car! Contact us for a chat and we will help you the best we can.
Sincerely, a Merry Christmas from the team at SG Cash N Cars to our customers and soon to be customers!