This round’s story
Cat A vs Cat B spread widens to $6,667
Cat A at $139,001 is the highest it has been in the last 24 rounds on record. That is the number worth sitting with this release.
| Category | Quota premium | Change from previous round | Quota, bids and PQP |
|---|---|---|---|
| Cat A ≤1,600cc | $139,001 | ▲ +5.3% MoM | Quota 1,189 · Bids 2,018 December PQP n/a |
| Cat B >1,600cc | $132,334 | ▲ +0.3% MoM | Quota 959 · Bids 1,163 December PQP n/a |
| Cat C Goods/Bus | $92,000 | ▼ -0.2% MoM | Quota 315 · Bids 451 December PQP n/a |
| Cat D Motorcycle | $10,689 | ▼ -0.8% MoM | Quota 509 · Bids 584 December PQP n/a |
| Cat E Open | $135,998 | ▲ +0.2% MoM | Quota 287 · Bids 506 December PQP n/a |
Premium Trend · All 5 Categories
What this could mean
Cat A at $139,001 is the highest it has been in the last 24 rounds on record. That is the number worth sitting with this release.
The prior round closed at $132,004. A $6,997 move in a single round is not routine. For context, the Cat A/B spread last round was $103; this round it is $6,667. The two categories were nearly level a fortnight ago and have now pulled apart sharply. What drove Cat A up 5.3% while Cat B moved only 0.3% is not something we can say with confidence. One possibility is the bid volume: Cat A received 2,018 bids against a quota of 1,189, a ratio of 1.7. A ratio above 1.5 is generally read as real demand pressure, and Cat A has been on a three-round consecutive rise. Cat B’s ratio this round was 1.21, which sits close to the threshold where demand starts to read as thinning.
Or it could just be one volatile fortnight.
Cat A covers cars up to 1,600cc and 130bhp, the segment where most mass-market buyers have no practical alternative. Cat B buyers have more room to move: a used car, a different model, a different category. That structural difference could explain why Cat A demand absorbs price increases more readily than Cat B does. But one round is not a pattern.
Cat E closed at $135,998, sitting $3,664 above Cat B and $3,003 below Cat A. Cat E is the open category; LTA publishes no PQP for it because a car registered under Cat E renews under the category it actually belongs to, so the premium moves purely on what the market bids. Its ratio of 1.76 was the highest of any category this round.
The thing to watch on 18 November is whether Cat A holds above $135,000 or whether this round proves to be an outlier at the 24-round ceiling.
Next round of bidding: 18 November 2026
Looking ahead
The thing to watch on 18 November is whether Cat A holds above $135,000 or whether this round proves to be an outlier at the 24-round ceiling.
Next round of bidding: 18 November 2026.