Car ownership in Singapore has never felt more out of reach — with COE prices soaring past six figures, often eclipsing the cost of the car itself. 

The latest bidding round in July saw yet another spike, raising fresh questions: is this simply the cost of a land-scarce nation, or is it time to rethink the COE system altogether?

But, would an overhaul of the COE system create more problems than it solves?

On The Hot Seat, Hongbin Jeong speaks with Say Kwee Neng, Managing Partner, ONE Strategic Consulting LLC and Terence Fan, Assistant Professor Strategy & Entrepreneurship, Lee Kong Chian School of Business, SMU, to find out more.