In August, Singapore car sales fell again 10.2% as new rules for car loans have hit consumer’s demand. In addition, government has revised COE rules, effective from 2014. BMW and Mercedes continued to fight on top of the market.
Singapore’s government has further squeezed the automotive sector with new additional measures which effect was the immediate market drop. In June, sales were down only 5.7%, but the first half 2013 ended down 24.7%.
In the first four month of 2013 the car market in Singapore fell 32.7% and will not recover across the year. Mercedes rose in first position outpacing BMW in the most expensive World car market. Rolls Royce in the Top 25.
In 2012 the number of vehicles sold in Singapore declined 1.4% from the previous year, while all luxury brands had reinforced their position on top of the market. For the second year, BMW was the first, followed by Mercedes.
Singapore is the only car market were the final year result is decided by the Minister of Transportation, one year early and based on the number of plates released. Having taken the market leadership last year, BMW is confirming the rank.