Key Highlights From Singapore’s 2024 New Car Sales Results

Toyota secured the largest market share in 2024

In terms of total industry volume (commercial vehicles, taxis and passenger cars), Toyota was placed in first position. It also obtained a sizeable 45% of taxi market share, and was the best selling brand in Singapore in December 2024 (authorised dealer (AD) and parallel importer (PI) figures combined).

BYD emerged victorious, too

Based only on AD figures, BYD is the best-selling brand with 6,191 units registered in 2024. A wave of new showroom openings and Cat A-friendly offerings certainly helped its cause. BYD’s incredibly functional M6 and sleek Sealion 7 should further boost its 2025 sales numbers.

We’ll still see some spanking new supercars (and super SUVs) around

Hefty ARFs tagged to luxury car purchases did not deter a select few who still want them their collection. McLaren registered 11 new cars, Aston Martin sold 12, Lamborghini transacted 18 and Ferrari made 29 clients (some repeated customers, we reckon!) very happy.

New Chinese entrants are just getting started

Dongfeng’s new showroom at Tai Seng Exchange opened only in September last year, but 19 AD sales were already made (excluding 3 PI purchases). XPENG’s pop-up exhibition and flagship showroom opening a couple of months ago helped it shift 336 units of G6 coupe SUVs. Zeekr sold 99 new vehicles, with a majority of sales allocated to the X compact SUV.

What Teslas are we buying?

Out of 2,384 Teslas sold in 2024, 64 percent of sales went to their sedans (Model 3). Numbers might sway in the Model Y SUV’s favour this year with a new model already open for orders.

Are PHEVs doing well?

On paper, plug-in hybrids should cover the middle ground perfectly. The ICE component supplies familiarity and eases range anxiety, while the electric motor keeps performance peppy and enhances range, if we charge it religiously. 210 PHEVs were registered in 2024, perhaps a number not significant enough to shake up the industry. But of worthy mention will be Lamborghini with 7 PHEVs sold, and Volvo that secured 64 orders - the former utilises PHEV tech for relentless performance, but that’s a story for another day…

Final hurrah for diesels

We cannot buy new diesel cars and taxis from this year onwards, so those registered last year will be etched in record books. Mercedes-Benz sold 12 diesels, Toyota registered 3 and Ssangyong scored the most with 28 orders.

*Click here for LTA’s 2024 new car registrations, categorised by H1 and H2 2024.

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