What happened on 9 September 2026
LTA’s 1st bidding round for September 2026 closed higher in every category on 9 September. The direction was uniform; the scale was not. Cat B led in absolute terms at +$4,000. Motorcycle Cat D led in percentage terms at roughly +11%. Every category saw oversubscribed demand, led by the Open category at 1.71 bids per quota.
| Category | Premium | Δ vs prev | 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 but it isn’t one. PQP stands for Prevailing Quota Premium — a 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.
Two consequences follow:
- A single round’s spike does not drive renewals. When this round’s higher premiums enter the PQP window, they enter as one of three inputs. The effect is smoothed across the rolling window — not a step change.
- A single round’s dip does not drop renewals either. Two or three higher rounds still 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 follows the same four steps:
- Bidders submit a price they are willing to pay for a COE.
- LTA ranks bids from highest to lowest.
- The round clears at the lowest price that fills the available quota. Everyone who bid at or above that price pays the clearing price.
- 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 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 will publish the next update after that round closes.