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The heart is driving COE prices more than reason
Fear, status and human desire are fuelling continued demand for cars.
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Fear, status and human desire are fuelling continued demand for cars, says the writer.
ST PHOTO: LIM YAOHUI
Victor Kwan
I recently visited the latest car fair at Singapore Expo. With certificate of entitlement (COE) prices hitting another record high, it was little surprise – and perhaps a relief – that the crowd was thinner than in past years.
Did the smaller crowd size suggest Singaporeans might finally be regaining some sensibility and pulling back from the recent car-buying frenzy sparked by the Land Transport Authority’s announcement of rebate reductions for electric vehicles (EVs)? I left the exhibition hall and settled down at a nearby coffee bar, ready to write about this.
