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Flash Reports

Singapore October. Car market down 5.5%

Singapore Car market Lexus-ES-2019

Singapore Car market fell down by 5.5% in October with a negative full year projection at 83.055 sales. The year to date figures are at 66.736 sales (-10%). Honda and Toyota are leading the market at brand level.

Economic Environment

Singapore’s economic growth has decelerated in the second half of the year. The manufacturing PMI declined to an over one-year low in October, indicating that trade protectionism and slower growth in China is dragging on demand. The electronics PMI also fell, which coupled with the tenth consecutive decline in electronics exports in September highlights the electronics sector’s feeble performance in 2018. On a more positive note, pharmaceutical exports buttressed the non-oil export headline trade print in September.

Although momentum is expected to wane in 2019 as the contribution from the manufacturing sector weakens, growth should stay robust thanks to strong domestic demand.

Market Trend

Singapore vehicles market hit a negative peak in the 2013 and then started a fast growth, supported by the decision taken by the government to release more CEE (certification for vehicles purchase) with total vehicles sales volume grew impressively from 37.511 (2013) to a new record in the 2017, when – according to data released by the Singapore Bureau of Statistics – sales hit the 109.888 units, down 0.8% from the previous year.

In the 2018 the car passenger’s market is losing terrain. Indeed, having ended the Q1 with 17.795 sales (-20.5%) and the Q2 with 24.860 (+5.9%), in July sales were 5.274 (-30.3%), in August 5.942 (-22.9%) and in September 6.011 (+1.7%).

The Q4 started with 6.759 sales (-5.5%) in October. The year to date figures are at 66.736 (-10%) and the full year projection is at 83.055 (-8.6%).

Market Sales October ‘+/- Oct Sales YTD 2018 +/- YTD 2018 Sales 2018 est +/- 2018
Car 6.759 -5,5% 66.736 -10,0% 83.055 -8,6%

At brand-wise, the year to date leader is Honda with 13.090 sales (-3.3%) followed by Toyota with 10.166 (-17.5%).

Rank 2018 Rank 2017 Brand Sales October ‘+/- Oct Sales YTD 2018 +/- YTD 2018 Sales 2018 est +/- 2018
1 1 Honda 1.151 35,3% 13.090 -3,3% 15.623 -2,5%
2 2 Toyota 1.130 -19,3% 10.166 -17,5% 13.948 -15,0%
3 4 Mercedes 491 -22,7% 6.043 -4,9% 6.147 -5,0%
4 10 Hyundai 592 29,8% 5.648 109,1% 6.772 43,8%
5 6 BMW 441 4,5% 4.315 0,7% 5.645 1,0%
6 3 Mazda 455 -27,5% 4.249 -42,1% 5.449 -56,2%
7 5 Nissan 315 -46,4% 3.294 -24,9% 4.168 -25,7%
8 8 Kia 449 3,5% 3.239 9,2% 4.138 7,0%
9 7 Mitsubishi 233 -6,0% 2.933 -8,9% 3.276 -8,5%
10 11 Subaru 233 -7,9% 2.502 -5,2% 3.202 -3,9%
11 12 Audi 292 35,2% 2.469 14,6% 2.928 11,1%
12 13 Volkswagen 265 68,8% 1.807 -8,9% 2.283 -7,3%
13 9 Lexus 156 -14,3% 1.364 -50,9% 1.690 -83,2%
14 14 Volvo 99 -3,9% 1.233 11,6% 1.662 8,2%
15 20 Peugeot 40 -39,4% 618 36,4% 851 19,9%
16 17 Renault 39 -7,1% 545 -13,5% 686 -12,0%
17 18 Porsche 29 0,0% 429 -9,7% 635 -6,6%
18 24 Mini 62 24,0% 396 10,0% 505 7,6%
19 21 Jaguar 28 -6,7% 362 -19,7% 466 -18,7%
20 15 Opel 14 -87,3% 285 -58,9% 557 -72,4%
21 23 Land Rover 18 -59,1% 255 -38,6% 371 -42,5%
22 16 Citroen 22 -56,0% 222 -65,6% 300 -141,1%
23 42 Skoda 55 1733,3% 192 3740,0% 192 96,9%
24 26 Infiniti 13 -45,8% 186 -27,3% 233 -29,7%
25 28 Seat 21 90,9% 146 5,8% 208 4,4%
26 22 Suzuki 27 -15,6% 108 -74,2% 193 -160,0%
27 25 Ford 4 -88,9% 98 -68,9% 143 -151,3%
28 29 Maserati 24 118,2% 95 -5,9% 118 -4,7%
29 39 Bluecar 18 90 718,2% 90 100,0%
30 38 Alfa Romeo 3 50,0% 45 275,0% 45 73,3%
31 27 SsangYong -100,0% 35 -84,6% 198 -95,8%
32 41 BYD 32 300,0% 32 100,0%
33 33 Ferrari 5 150,0% 29 -14,7% 34 -14,4%
33 32 Jeep 3 0,0% 29 -34,1% 37 -39,9%
34 40 Lamborghini 6 500,0% 27 170,0% 27 59,3%
35 31 Bentley -100,0% 26 -55,9% 37 -88,1%
36 35 Rolls-Royce 2 -33,3% 23 21,1% 29 14,1%
36 34 Aston Martin 5 400,0% 23 -11,5% 26 -11,3%
37 30 Perodua 5 -44,4% 19 -80,4% 48 -162,8%
37 42 McLaren 1 -66,7% 19 280,0% 19 47,4%
38 45 Maxus 3 11
39 36 Alpina -100,0% 8 -55,6% 13 -75,6%
40 44 Datsun 5 400,0% 5 80,0%
40 45 Daihatsu 5 5 100,0%
41 45 Chrysler 2 2 100,0%
41 45 Tesla 1 2 2 100,0%
41 43 Triumph -100,0% 2 -33,3% 2 -50,0%
42 44 Lotus 1 0,0% 1 0,0%
42 19 Chevrolet 1 -99,8% 1
42 44 MG 1 1 0,0% 1 0,0%

 

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