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Singapore Full Year 2015: Lower COE has market double year-on-year

Toyota Corolla Singapore 2015Toyota Corolla

* See the Top 50 All-brands by clicking on the title *

As it was the case in 2014, the one and only element influencing new car sales in Singapore in 2015 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 and higher registration quotas mean mass market cars are affordable again and luxury brands are not the only valid option anymore. In this context, the Singaporean new car market purely and simply doubles in size in 2015 compared to 2014 (+99%) to reach 57.589 units. Four in the Top 5 best-selling manufacturers – and eight in the Top 12 – outpace this already extravagant growth rate: Toyota is up 124% to keep the lead with 12.172 sales and 21.1% share including Lexus and should have the Corolla at the #1 nameplate in Singapore this year again. Honda (+414%), Nissan (+205%) and Mazda (+169%) take off while premium offerings Mercedes (+16%), BMW (+11%), Volkswagen (+21%) and Audi (+34%) all see their market share significantly reduced.

Previous month: Singapore November 2015: Japanese carmakers sail away

Previous year: Singapore Full Year 2014: Toyota Corolla new best-seller

Two years ago: Singapore Full Year 2013: Mercedes leads for the first time

Full Year 2015 Top 50 All-brands vs. Full Year 2014 figures below.

Full December 2015 Top 33 All-brands Ranking Table below.

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