Singapore January 2024: BMW and Mercedes take control, BYD breaks share record

BYD holds a record 11.7% of the Singaporean market in January.

New car sales in Singapore jump 18.6% year-on-year in January to 2,240 units, yet the year-ago comparison set was particularly low and down -36.3% on the year prior. This month the brands ranking is turned upside down. BMW (+95.3%) spectacularly takes the lead with 18.5% share, which is its highest in over 10 years, since the 20.7% it reached back in December 2013. Mercedes (+3.9%) is at 17.9%, its best since last April (18.3%). The traditional leader, Toyota (-4.2%) is down to #3 with 17.2% share. Once again BYD (+434.7%) stuns and smashes its market share record to 11.7%. Tesla (+246.7%), Nissan (+183.3%) and Hyundai (+24.5%) also beat the market in the remainder of the Top 10.

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

One year ago: Singapore January 2023: Audi, Opel, BYD defy market off -36.3%

Full January 2024 Top 35 All brands ranking below.