$200k COE may seem affordable (relatively) to households with $400k pa incomes but such annual incomes are not the norm lah.

Looking at the income tax data below, there could be at most be 100,000 such households assuming the high earners marry each other. If the high earners don't marry each other or if they were single, or their spouse earn much less, then number of households with $400k pa annual income would be only around 55,000.

Anyway, even though my HH income is currently at $530k pa, I will not buy a car if the COE ever exceeds $100k. It does not make economic sense to spend so much on a depreciating asset such as a car with only a 10 year lifespan. Our public transportation is good and comfortable, and there is always the taxi. It is like having your own personal driver!

Having said that, we current have 2 cars, bought during the relatively low COE periods.

Now that Uber and Grab are also competing for COEs, I think COEs prices might not fall or might even rise in spite of more COEs being released.

Assessable Income. / No.of People
(Gross income less deductibles)

$1m and above / 4557
$500k to $1m / 14,757
$400k to $500k / 11,479
$300k to $400k / 24,268
$200k to $300k / 59,346
$150k to $200k / 70,315
$100k to $150k / 158,244
$80k to $100k / 120,538
$70k to $80k / 86,370
$60k to $70k / 115,089
$50k to $60k / 162,440
$40k to $50k / 224,042
$30k to $40k / 288,519
$25k to $30k / 136,256
$20k to $25k / 71,842
Below $20k - no tax.