Sadly
COE price dropping to $30k will not happen,
1. More and more people due for retirement are choosing to renew / continue their employment. Some of these potential retirees who don't drive are now looking to buy their cars when they withdraw their
CPF money. Those currently driving will continue. Already a few of my older colleagues (58 - 60 yo) have bought new cars.
2.
COE supply from large number of cars being scrapped will be stretched over a longer period to stabilize supply and prevent a supply glut. The gahmen calls this "clawback" to spread the
COE to years expecting lower
COE supply.
3. > 90% of car owners scrapping their cars will be looking for another car.
4. Car population growth rate will be reduced further to maybe 0.1% because gahmen has put more buses on the road and more
MRT stations are opening.
5. Roads are very congested already
6. It is indeed true more and more families are owning 2 cars. Mainly because parents are delaying their retirements while children joining workforce. My family is an example.
Quote:
Originally Posted by Unregistered
Yes. Agree that it will drop like a rock to probably $30k in mid 2016.
Huat ah!
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