Dealers selling smaller models say prices have fallen to record lows on the back of COE premiums for small cars falling to an unprecedented $2 on Wednesday.

The made-in-China, 800 cc Chery QQ now costs $22,999 for the manual model, $5,000 less than originally. And if a buyer goes for this as a weekend car, he need only pay $10,999, down from $12,999.

The smaller models put out by other Chinese automobile makers, like the Hafei Lobo and the Chana Benni, are also going at all-time low prices.

Mr Richard Wan, the general manager of TTS Chana Automobile said prices for the Chana are at the lowest since the make was launched here in May.

The 1,300cc manual Chana Benni now goes for $25,999, and its weekend version, for $13,999.

Mid-sized cars are also going at discounts of up to $5,000 offered by retailers who are anticipating that the interest in cars will be fanned anew.

The price tag on a 1,600cc manual Honda Civic is now $67,800, the lowest since its launch three years ago, said Mr Vincent Ng, the product manager at authorised Honda agent Kah Motor.

Read the full story in Saturday's edition of The Straits Times.