Increasing number of bids in COE bidding exercise shows high demand for car ownership

quota system
By COE SG ChartsThe 2nd COE bidding exercise that ended on 18 March is the 4th bidding round since higher quotas were introduced in February.

Quotas for Category A vehicles is about 980 - 990 in each bidding round. Number of bids have almost doubled from 1,294 (4 February) to 2,251.

Quotas for Category B is about 720 in each bidding round. Number of bids have jumped from 959 (4 February) to 1,354 (41% increase).

The number of bids for the vehicles shows there is still a high demand for private car ownership. If people are indeed so satisfied with public transport (as what Land Transport Authority claims), why would there be so much demand for cars?

COE bidding results march 2nd