The COE premium for small cars fell in yesterday's bidding exercise - the first of the new year - and could have been as low as $1 if not for the strong participation by some taxi companies, say some distributors.
A certificate of entitlement in Category A - for cars below 1,600 cc - shed $7,240 to $38,889.
'The taxi companies secured at least 500 COEs,' said a senior executive of a mid-sized dealership. 'Otherwise, Cat A might have only cost $1.'
Taxi operators are aggressively expanding their fleet size to cater to a strengthening economy.
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