What it means for you
## What happened on 09/09/2026
The Land Transport Authority's first bidding round for September closed at higher premiums in every category compared to the previous round. The movement was uniform direction but uneven in scale — Cat B led the absolute increase at +$4,000, motorcycle Cat D led in percentage terms at roughly +11%.
| Category | Premium | Δ vs prev round | PQP (Sep) | Quota | Bids | |---|---|---|---|---|---| | A — Cars ≤1600cc & ≤130bhp / ≤110kW | $133,009 | +$4,508 | $126,208 | 1,195 | 1,708 | | B — Cars >1600cc / >130bhp / >110kW | $135,001 | +$4,000 | $128,697 | 934 | 1,333 | | C — Goods vehicle & bus | $93,101 | +$3,099 | $92,907 | 310 | 565 | | D — Motorcycle | $12,556 | +$1,255 | $10,366 | 514 | 657 | | E — Open (all except motorcycle) | $137,890 | +$2,890 | — | 300 | 513 |
## What the PQP column means
The PQP row looks like a premium number but it isn't one. PQP stands for Prevailing Quota Premium — it's the rolling 3-month average of successful bidding premiums, recalculated at the start of each month. LTA uses the PQP, not the latest round's premium, when calculating your COE renewal price.
That distinction matters for two reasons:
- **A single round's spike doesn't drive renewals.** When this round's higher premiums flow into the PQP calculation next month, they enter as one of three inputs. A higher premium in one round nudges the next-month PQP up, but the effect is smoothed across the rolling 3-month window — not a step change. - **A single round's dip doesn't drop renewals either.** Two or three higher rounds still sitting inside the 3-month window keep PQP elevated even after a softer round.
For September 2026, the PQP figures shown are the published month-start average based on June, July, and August premiums.
## How LTA's bidding actually clears
LTA holds two bidding rounds per month, typically on the 1st and 3rd Wednesday. Each round:
1. Bidders submit a price they're willing to pay for a COE. 2. LTA ranks bids from highest to lowest. 3. The round clears at the lowest price that fills the available quota. Everyone who bid at or above that price pays the clearing price. 4. Anyone below the clearing price walks away with no COE.
The Bids Received column shows how many people bid. The Quota column shows how many COEs were on offer. **A ratio above 1 means the category was oversubscribed** — more bidders than plates. The Cat E bids-to-quota ratio of 1.71 in this round tells you demand ran ahead of supply in the Open category.
## What's next
The 2nd bidding round of September 2026 is scheduled for Wednesday 23 September. We'll publish the next update after that round closes.
**Source:** Land Transport Authority (LTA) — OneMotoring COE Open Bidding. https://onemotoring.lta.gov.sg/content/onemotoring/home/buying/coe-open-bidding.html
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