COE for Cat A dropped to $2 last month but rebounded back to a more reasonable amount $7721 and during this period there is a "temporarily increase" in the sales of cars in Singapore. Traditionally end of the year and new year are the times where more people will buy/change to a new car but because of financial crisis majority are not spending on cars which is consider a luxury that one can forgo. And with news that COE quota will be cut by half so how will our car industry and car ownership be in future? Public transport is still not "world class" and full of FTs taking it. Car ownership in Singapore is still something which Singaporeans looking forward to have, given the number of cars on the road and number of people taking class 3/3A licence.
