Traffic congestion is quite bad during peak periods, so very likely the gahmen will trim the growth further to 0.1% for 2016. They will spread out the bumper COE over a longer period to stabilize the supply of COE. Plus they are opening up more MRT lines, so I don't think they would more cars on the roads.

Think in time to come, the status from owning cars will come back because fewer people will be able to own cars because of high COEs.