This crazy thing called COE is driving lots of people crazy. Those driving cars that are 8 to 9.5year old cars, the car dealers/traders, the car salesman etc.
I feel that it is gonna to be a chicken and egg thing. High COE would means that folks with cars 5 to 7year old would stretch longer and not scrap or sell their cars for the time being. There would be hardly any new entrant to the car market. With less cars being scrapped, the number of certificates would be even less in the market.
It would be difficult to predict which way it would go in the next few tender exercise.
One thing for sure is that those with deeper pockets will still be able to pay for it, like in the open cat.