When it comes to COE renewal, the Prevailing Quota Premium (PQP) is the most important number you need to understand. This guide explains what PQP is, how it is calculated, and how it affects your renewal cost.
What is PQP?
The Prevailing Quota Premium (PQP) is a 3-month moving average of the Quota Premium (QP) from the last three bidding exercises. It is used as the basis for calculating COE renewal costs. The PQP is updated after each bidding exercise and is published by LTA on the OneMotoring website.
How PQP is Calculated
The PQP is calculated as the simple average of the QP from the last three bidding exercises for each category. For example, if the last three Cat A QPs were $120,000, $122,000, and $116,000, the PQP would be ($120,000 + $122,000 + $116,000) / 3 = $119,333.
PQP vs Current Bidding Price
It is important to understand that the PQP is different from the current bidding price. The current bidding price is what you pay when buying a new vehicle with a COE. The PQP is what you pay when renewing an existing COE. The PQP tends to be more stable than the current bidding price because it is an average.
Current PQP Rates (April 2026)
- Category A: $119,432
- Category B: $118,956
- Category C: $81,200
- Category D: $9,100
- Category E: $122,100
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