Car Prices Going Up

Buying cars in SG is a very different thing compared to home. They say our cars are expensive back home to protect the local car industry but after reading the papers and asking around, they seem to have the same problem with the COE they have to pay. The COE recently went up sharply to curb the car demand and amazingly I read that people are actually making profits from selling off their second hand cars! Imagine, a car is now actually an asset instead of a depreciating liability! I wonder if that means that cheap car insurance now will too be a myth..just like cheap car prices!