According to the 2024 new car registration data released by the Singapore Land Transport Authority, BYD has become the best-selling car brand in Singapore for the first time. This marks the first time a Chinese car brand has topped the Singaporean market, surpassing long-established brands like Toyota, BMW, and others.
The data shows that BYD registered 6,191 units last year, a 337% increase compared to the 1,416 units sold in 2023. Currently, the brand holds a 14.4% market share in Singapore.
Following BYD, the top-selling brands in 2024 were Toyota (5,736 units), BMW (5,042 units), and Mercedes-Benz (4,887 units).
BYD's sharp rise in sales last year aligns with the rapid growth of new energy vehicles (NEVs) in Singapore. In 2024, Tesla also saw its sales in Singapore exceed 1,000 units for the first time, reaching 2,384 units, reflecting this same trend.
In 2022, the updated BYD ATTO 3 SUV (known as the "Yuan PLUS" in the Chinese market) was launched in Singapore. In June 2023, BYD reported in an investor survey that the ATTO 3 had become a hot seller in Singapore. Following the ATTO 3's success, BYD launched the Dolphin model in Singapore in 2023. In October 2024, BYD's luxury electric car brand, DENZA, also entered the Singapore market.
Since February 2021, the Singaporean government has implemented a series of policies to support new energy vehicles, which has created a long-term favorable environment for BYD and other Chinese NEV brands in the market. In addition to BYD, several other Chinese electric vehicle brands, including Chery, Dongfeng, GAC, Zeekr, and XPeng, have also entered the Singapore market.
