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Singapore Full Year 2023: Toyota up to 24% share, BYD (+80.2%) shines

BYD is up to #5 brand in Singapore in 2023.

Discover over 15 years of Singapore Historical Data here.

The Singaporean new light vehicle market edges down -2.3% year-on-year in 2023 to 30,225 which is the lowest annual volume since 2014 (28,932). Toyota incl. Lexus (+13.2%) defies the negative market to improve its share from 20.7% to 24%. It widens the gap with #2 Mercedes (-18%) in great difficulty this year and down from 17% of the market to 14.3%. BMW (-7.6%) and Honda (-19.6%) also struggle but the Top 4 brands remain in the same order as last year. The success story of 2023 is BYD up 80.2% and 7 spots to #5 with 4.7% share, with Nissan (+54.5%) also very dynamic at #6. Note BYD peaked at 9.2% share in November and is now above Tesla in terms of EV sales.

Previous year: Singapore 2022: Market sinks -31.9%, Toyota and Mercedes on top again

Two years ago: Singapore 2021: Toyota remains best-seller in market up 10.1%

Full December 2023 Top 40 All brands ranking below.

Full Year 2023 Top 65 All brands ranking vs. Full Year 2022 figures below.

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