Visitors view a BYD Sealion 7 electric vehicle on display at the Singapore Motorshow on Jan 9, 2025. [Photo/VCG]
SINGAPORE -- Chinese car brands have expanded their market share in Singapore, while Japanese and German automakers have seen declines, The Straits Times reported on Monday.
Citing data from the Land Transport Authority, the report said that 18.2 percent of new car registrations in Singapore in 2024 were Chinese brands, a significant increase from 5.9 percent in 2023.
In total, 7,850 new Chinese-brand cars, including electric vehicles (EVs), internal combustion engine (ICE) cars, and hybrids, were registered in 2024, compared to 1,781 units in the previous year.
The market share of Japanese cars fell from 43.1 percent in 2023 to 35.6 percent in 2024, while German brands saw a decline from 32.4 percent to 28.2 percent.
Experts attributed the surge in Chinese car sales to the growing shift from ICE vehicles to EVs, particularly in the mass-market segment, the article said. They also noted that with a strong foothold established, Chinese brands are likely to expand further.
