I was reading the papers recently and the last bidding exercise for the COEs of car prices are at a sky-high rate of $60,000 for cars less than 1600 CC. Cars above 1600 CC are going at $42,000 and the rates are expected to climb all the way till Chinese New Year next year !
At the rate they are going, my dream Honda hatchback will easily set me back a grand $80,000 while it is only running on a 1400 CC engine while my ultra-dream Cooper S or BMW 3 Coupe can easily set me back a whopping quarter million ! As a form of comparison, my 2nd brother’s car which he bought for $55,000 five years ago now costs a whopping $75,000 ! The latter price used to be the cost of a continental brand 1400CC car !
It’s daylight robbery for the automobile sector but people are still buying cars ! Where do all these people get such money to make such big-ass investments like these ?
Tell me what are the chances that the COEs will ever drop to lower levels ? NEVER.
Ask me what are the chances that I’ll buy a car in the future ? NEVER.
Such gross prices just to gain that notch in personal convenience, I’d rather go public all my life.