The Toyota Corolla is #1 in Singapore for the first time since 2006.
* See the Top 50 All-brands by clicking on the title *
The main development in the 2014 Singaporean new car market is the lowering of prices of Certificates of Entitlements (the right to register a new car) which had reached extravagant figures in the past few years – sometimes matching the price of the car itself. Lower COEs mean mass market cars are affordable again and luxury brands are not the only valid option anymore. The trend is set to continue in 2015 with even more COEs made available for the cheapest car categories. As a result premium German manufacturers loosen the grip they had over the market in the past couple of years: Toyota reclaims the brands pole position thanks to sales up 57% to 5,431, above Mercedes (+20%) and BMW (-13%). Note Toyota sales include luxury brand Lexus and would not be #1 without it.
The “re-massmarketisation” of Singaporean new car sales is best symbolised by the return to the pole position for the first time in 8 years of the Toyota Corolla – contrary to preliminary information that was published in the local press and had the Mercedes E-Class at #1. If Volkswagen (-12%) remains in 4th place, the rest of the ranking is completely reshuffled as a direct consequence of lower COE prices: both Mazda and Nissan increase their sales threefold on 2013 to #5 and #6 respectively, Honda is up fourfold to #8, Hyundai up 89% to #10, Kia up 179% to #11 and Subaru up 212% to #12.
Previous post: Singapore H1 2014: Mercedes E-Class best-seller
Previous year: Singapore Full Year 2013: Mercedes leads for the first time
Two years ago: Singapore Full Year 2012: BMW #1 for second year running
Full Year 2014 Top 50 All-brands vs. Full Year 2013 figures below.
Full December 2014 Top 34 All-brands below.