Was surprised to learn that a few of my friends now have 2 cars in the family. 2 of them are staying in HDB flats while the rest are staying in condos. The surprise was because they were always talking about the high cost of owning cars here and trying to save money here and there. Now they also have 2 cars! All their wives are working.

I think nowadays owning a car is the basic expectation. To differentiate yourself from your neighbour you must own 2 cars. If this is the kind of thinking people have now, then it will be hard for the COE prices to fall.

My wife and I have had our own cars since the day we got married 25 years ago. Between us, together we had owned a total of 10 cars, all Jap cars. We tried before, but it was hard to give up cars. We recently bought new cars, which will probably be our last. They will have to serve us till we retire and beyond.