Originally Posted by Unregistered

Many households who bought cars in 2005-2006 when COE was only 10k are not going to buy a new car when their COEs expired. Their household income remains less than 120k per annum (diploma level dual income family working at technican/clerks level), their kids have grown up and now independently taking buses/MRT to schools. They dont have much cash to pay 50% downpayment for a car, and need to save for retirement and kids university education.
If they join in the property rush to upgrade to EC in past 2 years, they face higher mortgage payment soon.
They also face retrenchment threats in the 40s.
Too many financial constraints for a middle-class family to think about buying a car at 100k a piece.
When COE car prices drop to 30k, then maybe can consider. If not, just wait and see. Anyway 200,000 COEs will be issued in next 2 years. Just relax and watch those gan cheong spiders buy at ridiculous 70k COE prices