BYD Maintains Leading Position in Singapore’s Car Market
In the first half of this year, China’s BYD has continued to dominate Singapore’s car market, securing nearly 20% of new vehicle registrations. This represents a significant increase of 5.6 percentage points in its market share compared to previous periods. According to data from the Land Transport Authority, the city-state saw a total of 23,957 new car registrations during the period, with BYD leading the way by selling 4,667 vehicles—more than an 80% increase compared to the same period last year.
Toyota remains the second-largest seller in the market, with 3,461 vehicles registered, marking a 9.4% growth from the previous year. Its market share stands at 14.4%, up 0.5 percentage points. German luxury brands BMW and Mercedes-Benz follow closely behind, securing third and fourth positions with 2,664 and 2,537 units sold, respectively. Japan’s Honda rounds out the top five with 2,268 registrations, showing a remarkable 50.5% year-on-year increase.
BYD’s dominance in Singapore has been consistent since it first overtook Toyota as the most popular car brand earlier this year. In the first four months of the year, BYD sold 3,002 vehicles, while Toyota recorded 2,050 sales. Previously, Toyota had maintained a strong grip on the market, with 7,876 units sold in 2024, compared to BYD’s 6,191.
James Ng, managing director at BYD Singapore and the Philippines, highlighted the brand’s growing appeal among local buyers during the recent launch of the Sealion 6 DM-i plug-in hybrid. He noted that June was BYD’s best month so far this year, with 840 vehicles sold. The Sealion 6 DM-i is available in Singapore with a launch price of S$212,888 (US$165,500), which includes a guaranteed certificate of entitlement.
Key Highlights from the Market Data
- BYD: 4,667 vehicles sold (up 80% YoY), 19.5% market share
- Toyota: 3,461 vehicles sold (up 9.4% YoY), 14.4% market share
- BMW: 2,664 vehicles sold, 11.1% market share
- Mercedes-Benz: 2,537 vehicles sold, 10.6% market share
- Honda: 2,268 vehicles sold (up 50.5% YoY), 9.5% market share
The shift in market dynamics reflects changing consumer preferences, with more Singaporeans opting for electric and hybrid vehicles. BYD’s success can be attributed to its competitive pricing, strong product lineup, and growing reputation for quality and innovation. As the automotive landscape continues to evolve, the competition between global brands is expected to intensify, particularly with the increasing focus on sustainability and technological advancement.
Future Outlook
With the ongoing push towards greener transportation, the demand for electric and hybrid vehicles is likely to rise further. BYD’s expansion into Singapore and other Southeast Asian markets signals its long-term strategy to capitalize on this trend. Meanwhile, traditional automakers like Toyota and Honda are also investing heavily in electrification to maintain their foothold in the region.
As the market matures, consumers will have more choices, and the battle for market share will become even more intense. For now, however, BYD’s impressive performance underscores its growing influence in one of Asia’s most competitive automotive markets.