Increase in COE supply is meaningless as long as demand exceeds supply. Prices will rise. There are many rich people in Singapore. Market commentaries like to talk about supply but they fail miserably because they fail to talk about demand. As long as household income is rising, the BTO scheme allows people to flip and profit from their cheap BTO flat, the stock market is rising, high employment, number of millionaires increasing, families buying their 2nd or 3rd or 4th car (for father, mother, son, daughter), then COE price will rise. Anyway cars are luxury goods and there is no need to ensure everyone can afford a car. There are taxis, bus, MRT, motorcycle that people can use. Cars are meant for those who has the means to buy. Those who can't afford new cars can always buy resale cars.