So, Volkswagen has launched a special edition of the Golf for the Rabbit Chinese New Year.

Aside from the connotations of being associated with a cute, fluffy animal (the Rabbit is also the name for the Golf in the US), the other interesting thing about this particular Golf is that it is specially tailor-made for our own Singapore market. Which is something that doesn't happen very often.

So what gives? Why the special treatment for us?

One reason I can think of is that, with the spike in COE prices, local car buyers are even more discerning than ever before. With less customers available, car manufacturers have to go all out even further to clinch that elusive sale.

My theory runs that, with higher prices, the type of people who can afford to buy cars now value exclusivity and freedom of choice. Gone are the days of budget buyers willing to settle for a basic Chinese or Korean car just for transport. Car buyers now demand even more for their expensively-acquired COEs.

I remember back in the 1990s, when COE prices were similarly high, and a subsequent side effect was that there were a plethora of choices for the buyer. Cars were seen as a luxury item, and people were willing to pay just for an exclusive brand. After all, if you're already paying the equivalent of a house for your car, why buy something that looks like everyone else's? Those were the days when makes like Seat and Holden were able to bank on the 'being different' strategy. They didn't need to sell high volumes to survive.

I can foresee this trend, of having Singapore-market exclusive cars, continuing if COE prices remain or even rise further. Mini had their local-market only Stratford, and even Volkswagen themselves had precedent when they launched the Golf GTI V50 here a couple of years ago.

For car enthusiasts, the variety of choice can only leave us licking our lips.