Owning a brand new car is no big deal. Even those living in
HDB flats can afford to buy brand new cars. Many got the cash from selling their
HDB BTO flat. BTO flats are sold so cheaply that many people profit from it. On top of that, many people now earn more, salaries today is more than doubled the salaries 10 years ago. So, while supply is high, demand is higher. So Cat A
COE will soon reach $80k while Cat B will soon reach $100k. This is going to be the normal level. Prices of new cars are still affordable. You can get a good quality brand new Korean Cat A car for less than $100k.
Quote:
Originally Posted by Unregistered
In my office, there are 2 production supervisors who just changed to new rides after their old cars hit 10 years. It's very common and there are many more in my office are whose cars are hitting 10 years and will be looking at replacement.
Therefore, the 100,000 cars expected to be deregistered will be looking for new replacements. Only a fraction might give up driving, but there are many new immigrants who are willing to take that place.
So, COE of $60k (CatA) and $70k (CatB) will be a new norm. barring any economic crisis.
Those waiting at sidelines will be sadly disappointed and cheated that government has told them that there will be more supply (but price didnt come down as much anticipated) |