Asian auto market | January 2025 Singapore: BYD dominates with over 20% market share
In January 2025, Singapore's auto market performed exceptionally well, with a year-on-year increase of 20.7%, reaching sales of 2,703 units. This market is relatively small, mainly focused on branding in the Southeast Asian market. BYD topped the sales list with a 116% growth, achieving a 20.9% market share, becoming the second time it has topped the list as a new car brand.
Among domestic car brands, BYD, Geely, and Great Wall performed well, gradually capturing a larger market share. Traditional luxury brands like Mercedes-Benz and BMW also hold a place in the market, indicating significant changes in the competitive landscape.
Singapore Sales Overview for January 2025
Singapore's auto market continued to grow in January 2025, with a year-on-year increase of 20.7%.
As consumer confidence in economic recovery strengthens, car purchase demand has significantly increased, with electric vehicles playing a key role. BYD's outstanding performance highlights the strong growth of pure electric vehicles in the Singapore market.
● Brand Sales Rankings for January
◎ BYD ranked first with sales of 566 units, capturing a 20.9% market share, a 116% increase year-on-year. This marks BYD's strong rise in the Singapore market, topping the list again after February 2024.
This achievement is attributed to BYD's continuous optimization of its product lineup, launching more electric vehicles tailored to local consumer needs, as well as its enhanced channel development and brand influence in the local market.
◎ Mercedes-Benz ranked second with sales of 514 units, capturing a 19% market share, a 27.9% increase year-on-year. Despite strong competition from Chinese brands, Mercedes-Benz maintained its market share due to its luxury brand recognition and product advantages.
◎ BMW showed slight fatigue, with sales of 359 units, a 13.3% decrease year-on-year.
◎ Toyota 305 units（11.30%，-21.0%）
◎ Honda 177 units（6.50%，+25.50%）
◎ Kia 113 units（4.20%，+169.00%）
◎ Other brands sold fewer than 100 units.
● Chinese Car Brand Sales in January
◎ BYD sold 566 units, capturing a 20.90% market share, a 116.00% increase year-on-year, with outstanding performance.
◎ MG sold 38 units, capturing a 1.40% market share, a 5.00% decrease year-on-year.
◎ XPeng, ZEEKR, GAC, and Dongfeng are newly added brands, with sales of 36 units, 21 units, 15 units, and 10 units, respectively, capturing market shares of 1.30%, 0.80%, 0.60%, and 0.40%.
◎ Chery sold 28 units, and Great Wall sold 7 units.
Summary
In January 2025, BYD's strong rise was undoubtedly the highlight of Singapore's auto market. Chinese brands are expected to further consolidate their position in the Singapore market in the coming years and then expand across the Southeast Asian auto market.
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