Singapore 2023. Car Market Slightly Falls Back (-2.3%)

The 2023 Audi RS7 Sportback performance
The 2023 Audi RS7 Sportback performance

Singapore Car Market slightly decreased in 2023. Total sales were 30,221 (-2.3%.) Toyota consolidated the leadership gaining in double-digit, followed by Mercedes and BMW.

Market Trend and Outlook

Singapore’s Car Market in 2023 slightly fell back, while reaching 30,221 registrations (-2.3%). Although December resulted positive for the second time following 8 consecutive losses, reporting 4,774 new registrations (+98.3%).

Looking at cumulative data up to December 2023 brand-wise the Top 4 brands remain unchanged compared to the previous year: Toyota in 1st at 7,248 sales (+13.2%), followed by Mercedes at 4,317 sales (-18.0%), BMW at 3,436 (-7.6%) and Honda with 2,631 sales (-19.6%).

BYD moves up 7 spots into 5th with 1,416 registrations (+80.2%), followed by Nissan -up 2 spots- in 6th with 1,336 units sold (+54.5%), Mazda -down 1 spot- with 1,176 sales (+4.4%) and Hyundai -down 3 spot- in 8th with 1,143 sales (-31.7%).

Kia rises 1 spot into 9th with 1,074 sales (+28.0%) and Tesla closes the top 10 falling 3 spots with 941 vehicle registrations (+7.5%).

Looking at specific models the Toyota Corolla maintains 1st spot despite falling 31.5% from the previous year, followed by the Mazda3 down 5.9%.

Tables with sales figures

In the tables below we report sales for all Brands and top 10 Manufacturers Group.

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