July 2016, 2nd Tender
| CAT A Cars up to 1600cc & 130bhp |
|
| Quota Premium |
Change |
Prevailing Quota Premium |
Quota |
Bids Received |
|
| $53,000 |
 |
$699 |
|
$51,518 |
2,272 |
3,195 |
|
|
|
| CAT B Cars above 1600cc or 130bhp |
|
| Quota Premium |
Change |
Prevailing Quota Premium |
Quota |
Bids Received |
|
| $57,508 |
|
$1,419 |
|
$54,463 |
1,463 |
2,439 |
|
|
|
| CAT C Goods Vehicle & Bus |
|
| Quota Premium |
Change |
Prevailing Quota Premium |
Quota |
Bids Received |
|
| $49,890 |
|
$2,001 |
|
$46,254 |
230 |
344 |
|
|
|
|
|
| Quota Premium |
Change |
Prevailing Quota Premium |
Quota |
Bids Received |
|
| $57,501 |
|
$1,499 |
|
– |
521 |
821 |
|
|
COE is expected to stay above $50K (including commercial vehicles) at least for the next 3 months. With the surprise shrinkage in COE supply the coming quarter (Aug to Oct). Is this really a surprise? There have been a steady trend of vehicles renewing COE for their 10 years old car. Main reason is because it takes only about less than $3,000 & car owners can continue to drive their current car VS having to fork out 30% down payment which can easily cost them average $30K or more for a 1.5l Honda Vezel. What is more surprising, we notice the number of dealers selling COE renewed car have been more than 10 times. An evidence you can see from SgCarmart, from less than 200 cars being advertise in 2015 till now with about 1,400 COE cars being advertise for sale. Third trend, on the private hired market (Uber & Grab), there is no sign of them slowing down in registering new car on the road.
June PQP will be one of the lowest to stay below $50K for Cat A, so hurry get your car COE renewed by end of July. Speed Credit provides a wide range of loan package including COE Renewal Loan to cater for your needs.
