The fluctuations in COE are not sufficient to affect the willingness of car buyers.
Singapore is a conveniently located country with most working class individuals relying on public transportation. The desire to own a car usually emerges when individuals have families of their own, as it is insignificant to those who are considered 'emperors' or bosses.
The increase in COE prices is advantageous in controlling the willingness of car buyers and avoiding severe traffic congestion.
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