Singapore August 2012: Toyota #1 but BMW leads year-to-date
Singapore is the only country in the world where BMW is the #1 brand
* 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…
Toyota/Lexus is #1 in Singapore in August
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.