http://www.channelnewsasia.com/stories/singaporelocalnews/view/1097983/1/.html COE prices for car at highest level since 2000
By Hetty Musfirah Abdul Khamid Posted: 08 December 2010 1618 hrs

The COE price has been increasing rapidly since 2000. For the Open Category, the certificates are usually used to buy cars was up S$15,010 to $54,900. COE premiums for big cars of more than 16,00 cc rose from S$14,612 to S$62,502. For cars of 1,00cc and below, COE rose S$8,604 to S$47,604. Car dealers expect the COE price to increase around S$3,000 to S$5,000 but didnt expect to rise to S$15,000. Industry players expect the COE price to increase even more next year, hitting S$100,000. Car dealers said that some customers want new cars for the Lunar New Year and therefore the price of COE will keep increasing.

There will be many Singaporeans who are unable to afford to own a car because of the increasing COE price. I don't understand why COE price is increasing so rapidly. Is the government trying to control the amount of people owning a car so that there won't be massive jam in the road ? If this is the reason why, i would support it as during the peak hour, there would be traffic jam causing inconvenient to many people.
Secondly, if there's high COE price means many people cannot afford it which is a good thing too. Youngster who has just gotten their driving license would want to own a car if it is affordable. But now the COE price is too high, hence they cannot afford it. This means that there will be lesser accidents and Singapore will be a safer country!