10 years ago, our combined net worth (my wife and I) was $400k at best. Today, fast forward, our net worth is $2.5m. The increase is due to increase in salaries, savings, property appreciation, CPF increase, other assets appreciation, etc.

To us, a $63k or a $70k or even a $100k COE is nothing. Just a small % of our wealth. So, we can just buy a new car. 10 years ago, $100k is big to us, today it's small.

I'm sure there are many families with net worth more than ours, so many families will be buying new cars no matter what the COE will be.