By Maria Almenoar

CERTIFICATE of entitlement (COE) prices for small cars plummeted 30 per cent yesterday to $9,501, hitting their lowest levels in over a year.

The fall follows months of softening demand which dealers say has been driven by soaring inflation.

They blamed rising prices for everything from rice to fuel, along with a growing number of Electronic Road Pricing gantries, for keeping budget-conscious small car buyers out of showrooms.

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COE prices for cars up to 1,600cc, Category A, experienced one of the biggest drops to $9,501, a 24 per cent decrease.

Prices for Category B also dropped slightly by 3.6 per cent to $13,389.

Category C prices rose from $12,989 to $13,889, a 6.9 per cent increase. 

Similarly, premiums in Category D, motorcycles, gained 10.8 per cent, from $1,310 to $1,452.

Prices for Open Category E gained 2.1 per cent, from $14,001 to $14,300.

-AsiaOne