Vehicle growth rate will be cut from 0.5% to 0.25% However the number of COEs would not be materially impacted due to deregistrations. I wonder how many car owners will cough up for new cars or will there be a transfer of asset ownership trend where the young and upwardly mobile graduates achieve their aspiration of owning their first set of wheels and older people past their peak earning or retired give up theirs. Among my neighbors I have seen a few as they aged, they gave up their cars. They are still fit and healthy but I assume they could no longer afford or need one.
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