The Euro 6 emission standard, which kicked in this month, and fewer bids from private-hire firms contributed to the certificate of entitlement (COE) price for smaller cars plunging to its lowest levels since November 2010.

The COE premium for such cars - up to 1,600cc and 130bhp - finished 16.1 per cent lower at $36,001. That for cars above 1,600cc or 130bhp closed 3.9 per cent lower at $49,000. The premium for Open COEs, which can be used for any vehicle type except motorcycles, closed 4 per cent lower at $48,005. The commercial vehicle COE price rose by 2.4 per cent to $43,002. The motorcycle premium finished 53.8 per cent higher at $5,402.

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