Singapore car market outlook – August 2012. BMW market leader

The Singapore car market is really unique in the world influenced by two key factors: the price of Certificate of Entitlement (COEs) and the high pro capita income.

Since early 1990’s, the local government decided to limit car ownership and the number of vehicles (not only cars) on the country’s roads, introducing a sort of auction reserved to residents citizens. Each individual aiming to purchase a motor vehicle has to bid for the right to buy one. The number of yearly COEs is restricted by law and the highest bid reserve the right to purchase one.

In 2011, the government reduced by 33% the COEs available for cars, resulting in a record premium of over S$70,000 for the large cars.

In the 2011, for the first time since 2002, Toyota was not the leader brand, outpaced by BMW and Mercedes, probably due to the short supply suffered last year by Toyota. However, BMW was able to confirm its leadership year to date August 2012, with 3.240 units and a share of 17.1%, down 0.4 points of share from full year 2011.

Mercedes was again 2nd, with 2.817 sales and a share of 16.0%, up 1.3 points from last year and is challenging the BMW leadership for the year end.

Toyota was 3rd, with 2.817 sales and 14.9% of share, up 2.3 points from last year but down 4 points of share from the full year 2010.

Behind, Volkswagen was 4th, with 2.213 units and a share of 11.7%, confirming the growing track from the 9.5% of share performed in the 2010.

Porsche is in the ranking, placing 12th, and Jaguar is 14th. Really a unique market!

In the table below, the 15 best-selling brands, ranked for year to date position:

Rank

Brand

Aug

Ytd Aug

2010

2011

Q1

Aug

Ytd Aug

1

BMW

251

3.240

12,8%

17,5%

16,5%

12,8%

17,1%

2

Mercedes

318

3.028

12,8%

14,7%

18,4%

16,3%

16,0%

3

Toyota

332

2.817

18,9%

12,6%

9,3%

17,0%

14,9%

4

Volkswagen

261

2.213

9,5%

11,3%

11,5%

13,3%

11,7%

5

Audi

88

1.158

6,0%

7,5%

6,2%

4,5%

6,1%

6

Hyundai

102

905

6,6%

4,6%

5,4%

5,2%

4,8%

7

Volvo

55

688

2,2%

3,0%

3,7%

2,8%

3,6%

8

Nissan

73

516

4,9%

2,8%

3,1%

3,7%

2,7%

9

Kia

23

514

8,0%

3,4%

2,6%

1,2%

2,7%

10

Honda

42

382

8,9%

3,3%

1,7%

2,1%

2,0%

11

Peugeot

59

376

 

1,6%

0,7%

3,0%

2,0%

12

Porsche

46

368

 

2,1%

1,9%

2,4%

1,9%

13

Chevrolet

22

327

 

2,3%

0,5%

1,1%

1,7%

14

Jaguar

29

273

 

1,4%

0,3%

1,5%

1,4%

15

Land Rover

32

273

 

0,8%

0,5%

1,6%

1,4%

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