Singapore August 2012: Toyota #1 but BMW leads year-to-date
* See the Top 40 All-brands Ranking by clicking on the title! Thanks to Michael *
For Singapore so far only brands rankings have been accessible but the market is unique enough to warrant a full article on here… 1,956 new vehicles were sold in the country in August, the weakest month of 2012 so far and bringing the year-to-date total to 18,957. Last year BMW ended 9 years of Toyota domination to brilliantly lead the manufacturers ranking, and it looks like the premium German brand could reiterate this feat in 2012…
After being passed by Mercedes over the first Quarter of 2012, BMW lodged a couple of amazing months, securing 22% of the Singaporean market in May and 20.6% in June. As a result, it is back to #1 year-to-date after 8 months in 2012 with 3,240 units sold for a 17.4% market share, even though it falls to #4 in August at 12.8%. Toyota (including Lexus) takes the lead this month thanks to 332 units and 17% share but is still a distant #3 year-to-date at 2,817 sales and 14.9%, below Mercedes at 3,028 units and 16%.
The reason why the Singaporean market is dominated by such premium brands lies in the Certificates of Entitlement, a government program meaning Singapore residents have to bid for the right to buy a motor vehicle, with the number of certificates deliberately restricted. In August 2012 COEs prices were down slightly but still at a mind-boggling S$68,000 for cars of/under 1,600cc and S$80,191 for cars over 1,600cc, roughly the same as the car price itself. Only the very rich can afford to buy a new car in Singapore these days…
And this is reflected all through the manufacturers ranking, with Porsche up to #10, Jaguar at #14, Maserati at #21, Ferrari at #23, Bentley at #26, McLaren at an amazing 28th place with 6 units sold in August, Rolls Royce at #30, Lamborghini at #34 and Aston Martin at #36.
Another very interesting development this month in Singapore is the resurgence of Opel, selling 29 units in August alone compared to 15 over the first 7 months of the year. This is due to a very strong marketing push by new Opel dealer The Alpine Group which has invested in a spanking new S$25 million showroom, cable TV commercials and LED billboards in prime locations such as Orchard Road and Shenton Way.
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Full August and 8 months 2012 All-Brands Ranking Table below.