Singapore Car market in July almost recovered from previous months’ sharp losses, soaring at 32.4% with 6.983 sales. Honda – holding 24.7% share – signed an outstanding +115.9%, followed by Toyota (+75%). Mitsubishi and Nissan declined by over 20%.
Economic Environment
Singapore’s economy came to a near stand-still in the second quarter according to preliminary GDP data, dragged down by floundering manufacturing production amid the ongoing U.S.-China trade war and lackluster tech demand. Other data throughout the quarter points to a broad-based weakening. Both the manufacturing and electronics PMIs fell further into contractionary territory in June, driven mainly by declining output and new orders.
Moreover, non-oil domestic exports posted the sharpest contraction in annual terms in over three years in May, owing to weaker global demand for tech amid swirling trade tensions. Similarly, retail sales fell again in May as consumers likely responded to greater international uncertainty, boding poorly for private consumption in the quarter. This follows a limp Q1, which was hit by a contraction in exports of goods and services, and only partially offset by an increase in private consumption growth.
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 has lost terrain. Indeed, after three consecutive years of growth the market fell down 12.7%. The year ended with registrations at 80.268.
In January, the market started the new year on the right foot, with a stunning +48% and sales at 8.257, but went immediately back on earth in February, with 5.010 units sold (-4%). In March, the market signed a new gain (+3.4%) with 7.239 units, while falling down 1.1% in April with 6.896 units sold.
In May, the market was suddenly hit by a large drop, registering 6.308 units (-15%). In June, sales fell down a disappointing 41.2% with 6.155 units sold.
In July, the market almost recovered the previous months’ losses, soaring 32.4% with 6.983 sales. Indeed, year-to-date figures are down just 2.3% with 46.839 units sold.
In the competitive landscape, the market leader in July was Honda with 10.668 sales (+8.9%), with 22.8% of market share, followed by Toyota with 6.932 (-9.4%), Mercedes with 4.663 (+5.3%) and Hyundai with 4.174 units (+11%).
In the fifth place, Kia with 3.078 (+31.5%) ahead of BMW with 2.938 (-2.2%), Mitsubishi with 2.152 (+9%), Mazda with 2.058 (-36.3%), Nissan with 1.492 (-35.2%) and Audi with 1.471 (-10.7%).
| Rank 2019 | Rank 2018 | Brand | Sales YTD July 2019 | Sales July 2019 | '+/- YTD 2019 | '+/- Jul 2019 | Share YTD July 2019 | Share July 2019 |
|---|---|---|---|---|---|---|---|---|
| 1 | 1 | Honda | 10.668 | 1.725 | 8,9% | 115,9% | 22,8% | 24,7% |
| 2 | 2 | Toyota | 6.932 | 1.050 | -9,4% | 75,0% | 14,8% | 15,0% |
| 3 | 3 | Mercedes | 4.663 | 570 | 5,3% | -8,5% | 10,0% | 8,2% |
| 4 | 4 | Hyundai | 4.174 | 526 | 11,0% | -6,1% | 8,9% | 7,5% |
| 5 | 8 | Kia | 3.078 | 374 | 31,5% | 19,9% | 6,6% | 5,4% |
| 6 | 6 | BMW | 2.938 | 408 | -2,2% | 20,0% | 6,3% | 5,8% |
| 7 | 9 | Mitsubishi | 2.152 | 241 | 9,0% | -20,7% | 4,6% | 3,5% |
| 8 | 5 | Mazda | 2.058 | 470 | -36,3% | 207,2% | 4,4% | 6,7% |
| 9 | 7 | Nissan | 1.492 | 195 | -35,2% | -25,3% | 3,2% | 2,8% |
| 10 | 11 | Audi | 1.471 | 230 | -10,7% | 11,1% | 3,1% | 3,3% |
| 11 | 12 | Volkswagen | 1.087 | 181 | -2,2% | -22,0% | 2,3% | 2,6% |
| 12 | 13 | Lexus | 1.051 | 191 | 15,5% | 218,3% | 2,2% | 2,7% |
| 13 | 10 | Subaru | 749 | 145 | -57,2% | -56,6% | 1,6% | 2,1% |
| 14 | 14 | Volvo | 521 | 96 | -45,6% | 14,3% | 1,1% | 1,4% |
| 15 | 19 | Skoda | 512 | 86 | 532,1% | 72,0% | 1,1% | 1,2% |
| 16 | 15 | Renault | 473 | 81 | 18,5% | 9,5% | 1,0% | 1,2% |
| 17 | 21 | Opel | 411 | 56 | 69,1% | 2700,0% | 0,9% | 0,8% |
| 18 | 17 | Porsche | 387 | 40 | 29,0% | -14,9% | 0,8% | 0,6% |
| 19 | 27 | Suzuki | 296 | 42 | 659,0% | 366,7% | 0,6% | 0,6% |
| 20 | 18 | Mini | 264 | 48 | 4,8% | -4,0% | 0,6% | 0,7% |
| 21 | 20 | Jaguar | 203 | 25 | -29,8% | -7,4% | 0,4% | 0,4% |
| 22 | 25 | Seat | 202 | 40 | 188,6% | 400,0% | 0,4% | 0,6% |
| 23 | 22 | Land Rover | 180 | 28 | 1,1% | -9,7% | 0,4% | 0,4% |
| 23 | 23 | Citroen | 180 | 21 | 10,4% | 40,0% | 0,4% | 0,3% |
| 24 | 24 | Infiniti | 101 | 18 | -27,3% | -5,3% | 0,2% | 0,3% |
| 25 | 26 | Bluecar | 98 | 20 | 0,2% | 0,3% | ||
| 26 | 16 | Peugeot | 79 | 18 | -84,9% | -37,9% | 0,2% | 0,3% |
| 27 | 28 | Maserati | 71 | 9 | 39,2% | -10,0% | 0,2% | 0,1% |
| 28 | 39 | Perodua | 57 | 8 | 307,1% | 700,0% | 0,1% | 0,1% |
| 29 | 34 | Lamborghini | 45 | 3 | 125,0% | 200,0% | 0,1% | 0,0% |
| 30 | 30 | Bentley | 42 | 8 | 82,6% | 700,0% | 0,1% | 0,1% |
| 31 | 32 | SsangYong | 35 | 3 | 2,9% | 0,1% | 0,0% | |
| 32 | 31 | Alfa Romeo | 34 | 8 | -2,9% | 33,3% | 0,1% | 0,1% |
| 33 | 33 | Ferrari | 31 | 6 | 106,7% | 100,0% | 0,1% | 0,1% |
| 34 | 33 | Jeep | 26 | 2 | 23,8% | -50,0% | 0,1% | 0,0% |
| 35 | 38 | McLaren | 15 | 4 | -16,7% | 33,3% | 0,0% | 0,1% |
| 36 | 36 | Aston Martin | 13 | 1 | 8,3% | -50,0% | 0,0% | 0,0% |
| 37 | 40 | Maxus | 12 | 1 | 200,0% | -50,0% | 0,0% | 0,0% |
| 38 | 37 | Rolls-Royce | 11 | - | -45,0% | -100,0% | 0,0% | 0,0% |
| 39 | 44 | Tesla | 8 | 0,0% | 0,0% | |||
| 40 | 35 | BYD | 7 | 1 | -78,1% | -50,0% | 0,0% | 0,0% |
| 41 | 29 | Ford | 5 | 3 | -93,1% | 50,0% | 0,0% | 0,0% |
| 42 | 45 | MG | 2 | 0,0% | 0,0% | |||
| 43 | 46 | Ruf | 1 | - | 0,0% | 0,0% | ||
| 43 | 46 | Fiat | 1 | 1 | 0,0% | 0,0% | ||
| 43 | 41 | Alpina | 1 | -80,0% | -100,0% | 0,0% | 0,0% | |
| 43 | 46 | Austin | 1 | - | 0,0% | 0,0% | ||
| 43 | 42 | Datsun | 1 | - | -50,0% | 0,0% | 0,0% |
| Rank 2019 | Rank 2018 | Brand | Sales YTD July 2019 | Sales July 2019 | '+/- YTD 2019 | '+/- Jul 2019 | Share YTD July 2019 | Share July 2019 |
|---|---|---|---|---|---|---|---|---|
| 1 | 1 | Honda | 10.668 | 1.725 | 8,9% | 115,9% | 22,8% | 24,7% |
| 2 | 2 | Toyota | 6.932 | 1.050 | -9,4% | 75,0% | 14,8% | 15,0% |
| 3 | 3 | Mercedes | 4.663 | 570 | 5,3% | -8,5% | 10,0% | 8,2% |
| 4 | 4 | Hyundai | 4.174 | 526 | 11,0% | -6,1% | 8,9% | 7,5% |
| 5 | 8 | Kia | 3.078 | 374 | 31,5% | 19,9% | 6,6% | 5,4% |
| 6 | 6 | BMW | 2.938 | 408 | -2,2% | 20,0% | 6,3% | 5,8% |
| 7 | 9 | Mitsubishi | 2.152 | 241 | 9,0% | -20,7% | 4,6% | 3,5% |
| 8 | 5 | Mazda | 2.058 | 470 | -36,3% | 207,2% | 4,4% | 6,7% |
| 9 | 7 | Nissan | 1.492 | 195 | -35,2% | -25,3% | 3,2% | 2,8% |
| 10 | 11 | Audi | 1.471 | 230 | -10,7% | 11,1% | 3,1% | 3,3% |
| 11 | 12 | Volkswagen | 1.087 | 181 | -2,2% | -22,0% | 2,3% | 2,6% |
| 12 | 13 | Lexus | 1.051 | 191 | 15,5% | 218,3% | 2,2% | 2,7% |
| 13 | 10 | Subaru | 749 | 145 | -57,2% | -56,6% | 1,6% | 2,1% |
| 14 | 14 | Volvo | 521 | 96 | -45,6% | 14,3% | 1,1% | 1,4% |
| 15 | 19 | Skoda | 512 | 86 | 532,1% | 72,0% | 1,1% | 1,2% |
| 16 | 15 | Renault | 473 | 81 | 18,5% | 9,5% | 1,0% | 1,2% |
| 17 | 21 | Opel | 411 | 56 | 69,1% | 2700,0% | 0,9% | 0,8% |
| 18 | 17 | Porsche | 387 | 40 | 29,0% | -14,9% | 0,8% | 0,6% |
| 19 | 27 | Suzuki | 296 | 42 | 659,0% | 366,7% | 0,6% | 0,6% |
| 20 | 18 | Mini | 264 | 48 | 4,8% | -4,0% | 0,6% | 0,7% |
| 21 | 20 | Jaguar | 203 | 25 | -29,8% | -7,4% | 0,4% | 0,4% |
| 22 | 25 | Seat | 202 | 40 | 188,6% | 400,0% | 0,4% | 0,6% |
| 23 | 22 | Land Rover | 180 | 28 | 1,1% | -9,7% | 0,4% | 0,4% |
| 23 | 23 | Citroen | 180 | 21 | 10,4% | 40,0% | 0,4% | 0,3% |
| 24 | 24 | Infiniti | 101 | 18 | -27,3% | -5,3% | 0,2% | 0,3% |
| 25 | 26 | Bluecar | 98 | 20 | 0,2% | 0,3% | ||
| 26 | 16 | Peugeot | 79 | 18 | -84,9% | -37,9% | 0,2% | 0,3% |
| 27 | 28 | Maserati | 71 | 9 | 39,2% | -10,0% | 0,2% | 0,1% |
| 28 | 39 | Perodua | 57 | 8 | 307,1% | 700,0% | 0,1% | 0,1% |
| 29 | 34 | Lamborghini | 45 | 3 | 125,0% | 200,0% | 0,1% | 0,0% |
| 30 | 30 | Bentley | 42 | 8 | 82,6% | 700,0% | 0,1% | 0,1% |
| 31 | 32 | SsangYong | 35 | 3 | 2,9% | 0,1% | 0,0% | |
| 32 | 31 | Alfa Romeo | 34 | 8 | -2,9% | 33,3% | 0,1% | 0,1% |
| 33 | 33 | Ferrari | 31 | 6 | 106,7% | 100,0% | 0,1% | 0,1% |
| 34 | 33 | Jeep | 26 | 2 | 23,8% | -50,0% | 0,1% | 0,0% |
| 35 | 38 | McLaren | 15 | 4 | -16,7% | 33,3% | 0,0% | 0,1% |
| 36 | 36 | Aston Martin | 13 | 1 | 8,3% | -50,0% | 0,0% | 0,0% |
| 37 | 40 | Maxus | 12 | 1 | 200,0% | -50,0% | 0,0% | 0,0% |
| 38 | 37 | Rolls-Royce | 11 | - | -45,0% | -100,0% | 0,0% | 0,0% |
| 39 | 44 | Tesla | 8 | 0,0% | 0,0% | |||
| 40 | 35 | BYD | 7 | 1 | -78,1% | -50,0% | 0,0% | 0,0% |
| 41 | 29 | Ford | 5 | 3 | -93,1% | 50,0% | 0,0% | 0,0% |
| 42 | 45 | MG | 2 | 0,0% | 0,0% | |||
| 43 | 46 | Ruf | 1 | - | 0,0% | 0,0% | ||
| 43 | 46 | Fiat | 1 | 1 | 0,0% | 0,0% | ||
| 43 | 41 | Alpina | 1 | -80,0% | -100,0% | 0,0% | 0,0% | |
| 43 | 46 | Austin | 1 | - | 0,0% | 0,0% | ||
| 43 | 42 | Datsun | 1 | - | -50,0% | 0,0% | 0,0% |
Market Outlook
Following a period of growth and after hitting the all-time record in 2017, the Singapore’s market is now facing a negative trend. Indeed, the market is seen to be unstable during the 2019-2025 period of time. Moreover – on the economic front – trade protectionism and slowing global economic momentum should weigh on the external sector and cloud the outlook
Being interested to know more, give a look at this updated research. Clicking on the picture, you can see contents.
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