July 2016, 1st Tender

CAT A   Cars up to 1600cc & 130bhp Quota Premium Change Prevailing Quota Premium Quota Bids Received $52,301 $2,899 $49,519 2,222 3,194
CAT B   Cars above 1600cc or 130bhp Quota Premium Change Prevailing Quota Premium Quota Bids Received $56,089 $921 $51,630 1,469 2,547
CAT C   Goods Vehicle & Bus Quota Premium Change Prevailing Quota Premium Quota Bids Received $47,889 $113 $44,493 237 310
CAT E   Open Quota Premium Change Prevailing Quota Premium Quota Bids Received $56,002 $1,388 – 517 750

COE Prices Falling

It is not surprising to see Category A COE prices fall almost $3,000. For the past one month after the sharp rise in June 2016 COE result, motor traders have increased their selling price significantly to reflect the rise in COE prices. As a result, showrooms islandwide hardly finds any window shoppers not talking about potential buyers.

So how does this affect your decision if you happen to have a car with COE expiring soon?
If your car expiring date is in between July to September, our advice to you is to have your car renewed COE in July. As Prevailing Quota Premium (PQP) is calculated based on a 3 month average of the COE prices. Although there are expectation of more COE supply announcement soon for next quarter’s COE supply quota, for the month of August to October, but that does not help.

If your car still have a much longer time (more than 3 months) before the need for COE validation, you may want to consider to wait a little longer. But you may have to settle for a higher Prevailing Quota Premium (PQP).